Document:

exv4w13

Exhibit 4.13

EXECUTION COPY

 

NOTE PURCHASE AGREEMENT

Dated as of November 24, 2009

among

DELTA AIR LINES, INC.,

U.S. BANK TRUST NATIONAL ASSOCIATION,

as Pass Through Trustee under each of the Pass Through Trust Agreements

U.S. BANK TRUST NATIONAL ASSOCIATION,

as Subordination Agent

U.S. BANK NATIONAL ASSOCIATION,

as Escrow Agent

and

U.S. BANK TRUST NATIONAL ASSOCIATION,

as Paying Agent

 

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Table of Contents

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	Section 1.
	 	Financing of Aircraft	 	 	3	 
	 
	 	 	 	 	 	 
	Section 2.
	 	Conditions Precedent	 	 	6	 
	 
	 	 	 	 	 	 
	Section 3.
	 	Representations and Warranties	 	 	7	 
	 
	 	 	 	 	 	 
	Section 4.
	 	Covenants	 	 	11	 
	 
	 	 	 	 	 	 
	Section 5.
	 	Depositary Downgrade and Replacement of Depositary	 	 	14	 
	 
	 	 	 	 	 	 
	Section 6.
	 	Notices	 	 	15	 
	 
	 	 	 	 	 	 
	Section 7.
	 	Expenses	 	 	16	 
	 
	 	 	 	 	 	 
	Section 8.
	 	Further Assurances	 	 	17	 
	 
	 	 	 	 	 	 
	Section 9.
	 	Miscellaneous	 	 	17	 
	 
	 	 	 	 	 	 
	 Section 10.
	 	Governing Law	 	 	18	 

	 	 	 
	Schedule I
	 	Aircraft
	Schedule II
	 	Trust Supplements
	Schedule III
	 	Required Terms
	 
	 	 
	Annex A
	 	Definitions
	 
	 	 
	Exhibit A
	 	Form of Funding Notice
	Exhibit B
	 	Form of Participation Agreement
	Exhibit C
	 	Form of Indenture and Security Agreement

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NOTE PURCHASE AGREEMENT

          This NOTE PURCHASE AGREEMENT, dated as of November 24, 2009, is made by and among (i)
DELTA AIR LINES, INC., a Delaware corporation (together with its successors and permitted assigns,
the “Company”), (ii) U.S. BANK TRUST NATIONAL ASSOCIATION (“U.S. Bank”), a
national banking association, not in its individual capacity except as otherwise expressly provided
herein, but solely as trustee (in such capacity, together with any successor in interest and any
successor or other trustee appointed as provided in the applicable Pass Through Trust Agreement (as
defined below), the “Pass Through Trustee”) under each of the two separate Pass Through
Trust Agreements (as defined below), (iii) U.S. BANK TRUST NATIONAL ASSOCIATION, a national
banking association, 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) U.S. BANK 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) U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, 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 owns the 22 Boeing aircraft described in part one of Schedule I hereto
(each, a “2000-1 Aircraft”, and collectively, the “2000-1 Aircraft”) and the five
Boeing aircraft described in part two of Schedule I hereto (each, a “2009 Aircraft”, and
collectively, the “2009 Aircraft”, and together with the 2000-1 Aircraft, each, an
“Aircraft” and collectively, the “Aircraft”), which Aircraft are subject to certain
financings described in Schedule I hereto (such financings, the “Existing Financings”);

          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 Note
Purchase Agreement, two separate grantor trusts (the “Class A Pass Through Trust” and the
“Class B Pass Through Trust”, and collectively, the “Pass Through Trusts” and,
individually, each 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 (together with any other pass through certificates for which
such pass through certificates may be exchanged, collectively, the “Certificates”) to
provide financing, among other things, for the purchase by such Pass Through Trusts of the
Equipment Notes to be issued in respect of, and secured by a security interest in, the Aircraft;

          WHEREAS, the Company has entered into the Underwriting Agreement, dated November 18, 2009 (as
amended, supplemented or otherwise modified from time to time in accordance with its terms, the
“Underwriting Agreement”) with the Underwriters named therein

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(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”), and 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 Certificates,
respectively, to the Underwriters on the Issuance Date;

          WHEREAS, concurrently with the execution and delivery of this Note Purchase Agreement,
(i) the Escrow Agent and the Depositary have entered into that certain Deposit Agreement
(Class A), dated as of the Issuance Date, relating to the Class A Pass Through Trust and that
certain Deposit Agreement (Class B), dated as of the Issuance Date, relating to the Class B Pass
Through Trust (each such agreement, as amended, supplemented or otherwise modified from time to
time in accordance with its terms, a “Deposit Agreement” and collectively, 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 Underwriters, the applicable Pass Through Trustees, the
Paying Agent and the Escrow Agent have entered into that certain Escrow and Paying Agent Agreement
(Class A), dated as of the Issuance Date, relating to the Class A Pass Through Trust and that
certain Escrow and Paying Agent Agreement (Class B), dated as of the Issuance Date, relating to the
Class B Pass Through Trust (each such agreement, as amended, supplemented or otherwise modified
from time to time in accordance with its terms, an “Escrow and Paying Agent Agreement”, and
collectively, 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 Initial Deposits, agreed to deliver escrow
receipts to be affixed to each Certificate;

          WHEREAS, subject to the terms and conditions of this Note Purchase Agreement, each Pass
Through Trustee and each of the Subordination Agent, U.S. Bank and the Company will enter into the
applicable Financing Agreements to which it is intended to be a party relating to each Aircraft;

          WHEREAS, upon the financing of each Aircraft, each Pass Through Trustee will fund its purchase
of the related series of Equipment Notes in respect of such Aircraft 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; and

          WHEREAS, concurrently with the execution and delivery of this Note Purchase Agreement,
(i) the Class A Liquidity Provider has entered into the Class A Liquidity Facility for the
benefit of the holders of the Certificates issued by the Class A Pass Through Trust and the Class B
Liquidity Provider has entered into the Class B Liquidity Facility for the benefit of the holders
of the Certificates issued by the Class B Pass Through Trust, in each case with the Subordination
Agent, as agent for the Pass Through Trustee on behalf of each such Pass

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Through Trust and (ii) the Pass Through Trustees, the Liquidity Providers and the
Subordination Agent have entered into the Intercreditor Agreement.

          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) Agreement to Finance. The Company agrees:

     (i) to finance the 2000-1 Aircraft in the manner provided herein, all on and
subject to the terms and conditions hereof and of the applicable Financing
Agreements, by the date referred to in clause (a) of the definition of Delivery
Period Termination Date; and

     (ii) to finance the 2009 Aircraft in the manner provided herein, all on and
subject to the terms and conditions hereof and of the applicable Financing
Agreements, within 90 days after the date hereof.

     (b) Funding Notice. In furtherance of the foregoing, and in respect of each
Aircraft, the Company agrees to give the parties hereto, the Depositary and each of the
Rating Agencies not less than two Business Days’ prior notice (or, in the case of a
substitute Funding Notice under Section 1(f), one Business Day’s prior notice),
substantially in the form of Exhibit A hereto (each, a “Funding Notice”), of the
date (which date shall not be earlier than the eighth day after the date of establishment of
the relevant Deposit unless the seven-day requirement set forth in the first sentence of
Section 2.3(a) of each Deposit Agreement has been waived by the applicable
Depositary pursuant to the last sentence of Section 2.3(a) of such Deposit Agreement
and not reinstated pursuant to the last sentence of Section 2.3(a) of such Deposit
Agreement) scheduled for the financing as contemplated hereby in respect of such Aircraft
(the “Funding Date”), which notice shall:

     (i) specify the Funding Date of such Aircraft (which shall be a Business Day on
or prior to the Cut-Off Date);

     (ii) instruct each Pass Through Trustee 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 as specified in such Funding
Notice and to perform its obligations thereunder;

     (iii) instruct each Pass Through Trustee to deliver to the applicable Escrow
Agent the “Withdrawal Certificate” and the related “Applicable Notice of Purchase
Withdrawal” contemplated by Section 1.02(c) of the applicable Escrow and
Paying

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Agent Agreement with respect to the Equipment Notes to be issued to such Pass
Through Trustee in connection with the financing of such Aircraft; and

     (iv) specify the aggregate principal amount of each series of Equipment Notes to
be issued, and purchased by each Pass Through Trustee, in connection with the
financing of such Aircraft scheduled to be consummated on such Funding Date (which
aggregate principal amount shall be as specified in, or as adjusted in accordance
with, as the case may be, the Required Terms).

     (c) [Intentionally Omitted.]

     (d) Entering into Financing Agreements. Upon receipt of a Funding Notice, each
Pass Through Trustee shall, and shall cause the Subordination Agent to, enter into and
perform their obligations under each applicable Participation Agreement and follow the other
instructions specified in such Funding Notice; provided that, with respect to each
Aircraft to be financed:

     (i) subject to clauses (ii)-(iv) immediately below, the applicable Participation
Agreement and the applicable Indenture, as executed and delivered, shall be
substantially in the respective forms thereof annexed hereto and (x) the
amortization schedule for each Equipment Note shall be as set forth in the relevant
table attached as part of Schedule III hereto and (y) the relevant Financing
Agreements shall provide for the purchase by the applicable Pass Through Trustee of
Equipment Notes of the related series in the principal amounts specified in Schedule
III hereto;

     (ii) subject to clauses (iii) and (iv) immediately below, if (x) the
Company shall have obtained from each Rating Agency a Rating Agency Confirmation with
respect to each Class of Certificates then rated by such Rating Agency in connection
with any material modifications of the applicable Financing Agreements from the forms
of Financing Agreements annexed hereto (including the form of Equipment Note included
in the form Indenture annexed hereto) and delivered such Rating Agency Confirmation
to each Pass Through Trustee on or before the applicable Funding Date or (y)
such Rating Agency Confirmation shall have been obtained with respect to material
modifications of the Financing Agreements relating to another or any Aircraft or with
respect to material modifications of the forms of Financing Agreements annexed hereto
and the applicable Financing Agreements incorporate such material modifications
without additional material modifications, the applicable Financing Agreements, as
executed and delivered, may incorporate such material modifications, if any;

     (iii) the applicable Financing Agreements, as executed and delivered, shall
comply with the Required Terms; and

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     (iv) the Company is not required to obtain or deliver a Rating Agency
Confirmation or a certification pursuant to Section 2(b)(ii) of this Note
Purchase Agreement in connection with any modifications to the applicable Financing
Agreements that are expressly permitted by the Required Terms or by Section
5(e) of this Note Purchase Agreement.

          Notwithstanding the foregoing, (x) the Financing Agreements with respect to any
Aircraft and the forms of Financing Agreements annexed hereto may be modified to the extent
required for the issuance of Equipment Notes pursuant to Section 4(a)(v) of this Note
Purchase Agreement, subject to the terms of such Section and of Section 8.01(c) or
8.01(d) of the Intercreditor Agreement, whichever may be applicable, and the Company shall
pay the reasonable costs and expenses of the Rating Agencies in connection with obtaining any
Rating Agency Confirmation in connection therewith, and (y) the Company is not required to
deliver a certification pursuant to Section 2(b)(ii) of this Note Purchase Agreement in
connection with any modifications of the Financing Agreements contemplated by this sentence. With
respect to each Aircraft, the Company shall cause U.S. Bank (or such other Person that meets the
eligibility requirements to act as loan trustee under the applicable Indenture) to execute as the
applicable Loan Trustee the Financing Agreements relating to such Aircraft to which such Loan
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 one or more Rating Agencies, the Company shall deliver or cause to
be delivered to such Rating Agency or Rating Agencies 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 applicable Loan Trustee, the
Subordination Agent and each Pass Through Trustee under the applicable Participation Agreement.

     (e) Registration of Equipment Notes. The Company agrees that all Equipment
Notes issued pursuant to any Indenture to which an Aircraft shall have been subjected shall
initially be registered in the name of the Subordination Agent on behalf of the applicable
Pass Through Trustee (or, in the case of any Additional Series Equipment Notes, on behalf of
the Additional Series Pass Through Trustee with respect to the corresponding Additional
Series Pass Through Certificates).

     (f) Postponement of Delivery and Funding. If, on the Funding Date for any
Aircraft, the financing of such Aircraft as contemplated hereunder shall not be consummated
for whatever reason, the Company shall give the parties hereto and the Depositary prompt
notice thereof. Promptly after the Company has identified a new Funding Date on which such
Aircraft may be subjected to the financing as provided herein (all on and subject to the
terms and conditions hereof and of the applicable Financing Agreements), the Company shall
give the parties hereto and the Depositary a substitute Funding Notice specifying such new
Funding Date for such Aircraft. Upon receipt of any such substitute Funding Notice, each
Pass Through Trustee shall comply with its obligations under Section 7.01 of the
applicable Trust Supplement and thereafter the financing of such Aircraft, as specified in
such substitute Funding Notice, shall take

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place on the re-scheduled Funding Date therefor (all on and subject to the terms and
conditions hereof and of the applicable Financing Agreements) unless further postponed as
provided herein.

     (g) [Intentionally Omitted.]

     (h) [Intentionally Omitted.]

     (i) No Liability for Failure to Purchase Equipment Notes. The Company shall
have no liability for the failure of any Pass Through Trustee to purchase Equipment Notes
with respect to any Aircraft.

     (j) Withdrawals Limited to Available Deposits. 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 Series A Equipment Notes or Series B Equipment Notes in
respect of the Aircraft to the Class A Pass Through Trustee or the Class B Pass Through
Trustee, respectively, 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 applicable Deposit Agreement.

     (k) Notice of Event of Loss. In the case of any Aircraft, if, prior to the
date on which such Aircraft is subjected to a financing in the manner provided herein, an
event has occurred and is continuing that constitutes an Event of Loss (as defined in
(i) if at the time of the occurrence of such event such Aircraft was subject to an
Existing Financing, the indenture and security agreement to which such Aircraft was then
subject in connection with such Existing Financing or (ii) if at the time of the
occurrence of such event such Aircraft was not subject to an Existing Financing, the form of
the Indenture annexed hereto, as such form is modified from time to time in accordance with
the terms hereof) with respect to such Aircraft or that would constitute such an Event of
Loss but for the requirement that notice be given or time elapse or both, the Company will
as promptly as practicable (and, in any event, within 15 days after the occurrence of the
relevant Event of Loss) give notice of such event to each Pass Through Trustee and the
Subordination Agent and instruct each Pass Through Trustee, and each Pass Through Trustee
agrees, to execute and deliver to the applicable Escrow Agent a duly completed Withdrawal
Certificate (as defined in the applicable Escrow and Paying Agent Agreement) together with a
relevant Notice of Event of Loss Withdrawal (as defined in the applicable Escrow and Paying
Agent Agreement).

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

     (a) no Triggering Event shall have occurred;

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     (b) subject to Section 1(d)(iv) and the last paragraph of Section 1(d),
the Company shall have delivered a certificate to each Pass Through Trustee and each
Liquidity Provider stating that (i) such Participation Agreement and the other
Financing Agreements to be entered into pursuant to such Participation Agreement comply with
the Required Terms and (ii) if any substantive modifications of such Financing
Agreements from the forms of Financing Agreements attached to this Note Purchase Agreement
have been made, (x) such substantive modifications do not materially and adversely
affect the holders of the Class A Certificates, the holders of the Class B Certificates, or
any Liquidity Provider and (y) if required pursuant to Section 1(d)(ii), the
Company has obtained from each Rating Agency a Rating Agency Confirmation with respect to
each Class of Certificates then rated by such Rating Agency with respect to such
modifications, and such certification shall be true and correct;

     (c) such Pass Through Trustee shall not have received any notice pursuant to
Section 1(k) of a relevant event with respect to such Aircraft; and

     (d) such Pass Through Trustee shall have received evidence that the lien of the
applicable Existing Financing has been terminated with respect to such Aircraft and the
filing of a release with the FAA and the filing of Uniform Commercial Code termination
statements, and, if applicable, the registration of a discharge of any International
Interest (as defined in the Indenture Form) registered on the International Registry (as
defined in the Indenture Form), in each case with respect to such lien.

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

          SECTION 3. Representations and Warranties.

     (a) Representations and Warranties of the Company. The Company represents and
warrants that:

     (i) Due Incorporation; Good Standing; Corporate Power; Etc. 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 and has the full
corporate power, authority and legal right under the laws of the State of Delaware to
execute and deliver this Note Purchase Agreement and each Financing Agreement to
which it will be a party and to carry out the obligations of the Company under this
Note Purchase Agreement and each Financing Agreement to which it will be a party;

     (ii) Authorization; No Conflicts. The execution and delivery by the
Company of this Note Purchase Agreement and the performance by the Company of its
obligations under this Note Purchase Agreement have been duly authorized by the
Company and will not violate its Certificate of Incorporation or by-laws or

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the provisions of any indenture, mortgage, contract or other agreement to which
it is a party or by which it is bound; and

     (iii) Enforceability. This Note Purchase 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) Representations and Warranties of U.S. Bank. U.S. Bank represents and
warrants that:

     (i) Due Incorporation; Good Standing; Corporate Power; Etc. U.S. Bank
is a national banking association duly organized and validly existing in good
standing under the laws of the United States and is a Citizen of the United States
and has the full corporate power, authority and legal right under the laws of the
United States and of the state of the United States in which it is located and
pertaining to its banking, trust and fiduciary powers to execute and deliver this
Note Purchase Agreement and each Financing Agreement to which it will be a party and
to carry out the obligations of U.S. Bank, in its capacity as Subordination Agent,
Pass Through Trustee or Paying Agent, as the case may be, under this Note Purchase
Agreement and each Financing Agreement to which it will be a party;

     (ii) Due Authorization; No Conflicts. The execution and delivery by
U.S. Bank, in its capacity as Subordination Agent, Pass Through Trustee or Paying
Agent, as the case may be, of this Note Purchase Agreement and the performance by
U.S. Bank, in its capacity as Subordination Agent, Pass Through Trustee or Paying
Agent, as the case may be, of its obligations under this Note Purchase Agreement have
been duly authorized by U.S. Bank, in its capacity as 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) Enforceability. This Note Purchase Agreement constitutes the
legal, valid and binding obligations of U.S. Bank, 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) Representations and Warranties of the Pass Through Trustee. Each Pass
Through Trustee hereby confirms to each of the other parties hereto that its

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representations and warranties set forth in Section 7.15 of the Basic Pass
Through Trust Agreement and Section 7.04 of the applicable Trust Supplement are true
and correct as of the date hereof.

     (d) Representations and Warranties of the Subordination Agent. The
Subordination Agent represents and warrants that:

     (i) Due Incorporation; Good Standing; Corporate Power; Etc. The
Subordination Agent is a national banking association duly organized and validly
existing 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 and of
the state of the United States in which it is located and pertaining to its banking,
trust and fiduciary powers to execute and deliver this Note Purchase Agreement and
each Financing Agreement to which it is or will be a party and to perform its
obligations under this Note Purchase Agreement and each Financing Agreement to which
it is or will be a party;

     (ii) Due Authorization; Enforceability. This Note Purchase Agreement
has been duly authorized, executed and delivered by the Subordination Agent; this
Note Purchase 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) Compliance with Laws; No Conflicts. None of the execution,
delivery and performance by the Subordination Agent of this Note Purchase Agreement
contravenes any law, rule or regulation of the state of the United States in which it
is located 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 or contravenes the Subordination
Agent’s articles of association or by-laws or results 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;

     (iv) No Governmental Consents. Neither the execution and delivery by
the Subordination Agent of this Note Purchase 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 governmental authority or agency of the
state of the United States in which it is located or any federal governmental
authority or agency regulating the Subordination Agent’s banking, trust or fiduciary
powers;

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     (v) Certain Tax Matters. There are no Taxes payable by the
Subordination Agent imposed by any state of the United States in which it is located
or any political subdivision or taxing authority thereof in connection with the
execution, delivery and performance by the Subordination Agent of this Note Purchase
Agreement or the Intercreditor 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 any state of the United States in which
it is located 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) No Proceedings. 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 Note Purchase Agreement.

     (e) Representations and Warranties of the Escrow Agent. The Escrow Agent
represents and warrants that:

     (i) Due Incorporation; Good Standing; Corporate Power; Etc. 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 and of the state of the
United States in which it is located and pertaining to its banking, trust and
fiduciary powers to execute and deliver this Note Purchase 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) Due Authorization; No Conflicts. 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

     (iii) Enforceability. 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

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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) Representations and Warranties of the Paying Agent. The Paying Agent
represents and warrants that:

     (i) Due Incorporation; Good Standing; Corporate Power; Etc. The Paying
Agent is a national banking association duly organized and validly existing 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 and of the state in
which it is located and pertaining to its banking, trust and fiduciary powers to
execute and deliver this Note Purchase 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) Due Authorization; No Conflicts. 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) Enforceability. 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) Covenants of the Company.

     (i) Maintenance of Corporate Existence. Subject to, and except as
contemplated by, Section 4(a)(iii) of this Note Purchase Agreement, the
Company shall at all times maintain its corporate existence.

     (ii) Maintenance of Status as Certificated Air Carrier; Section 1110.
The Company shall, for as long as and to the extent required under Section 1110 in
order that the Loan Trustee shall be entitled to any of the benefits of Section 1110
with respect to the Aircraft, remain a Certificated Air Carrier.

     (iii) Merger, Consolidation, Acquisition of the Company. The Company
shall not consolidate with or merge into any other Person or convey, transfer or

Note Purchase Agreement

2009-1 EETC

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lease substantially all of its assets as an entirety to any Person, unless the
Person formed by such consolidation or into which the Company is merged or the Person
that acquires by conveyance, transfer or lease substantially all of the assets of the
Company as an entirety shall execute and deliver to the Pass Through Trustees, the
Subordination Agent, the Escrow Agent and the Paying Agent an agreement containing
the express assumption by such successor Person of the due and punctual performance
and observance of each covenant and condition of this Note Purchase Agreement to be
performed or observed by the Company. Upon any such consolidation or merger, or any
conveyance, transfer or lease of substantially all of the assets of the Company as an
entirety, the successor Person formed by such consolidation or into which the Company
is merged or to which such conveyance, transfer or lease is made shall succeed to,
and be substituted for, and may exercise every right and power of, the Company under
this Note Purchase Agreement with the same effect as if such successor Person had
been named as the Company herein.

     (iv) Notice of Occurrence of Cut-Off Date. 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.

     (v) Refinancing of Equipment Notes; Additional Series Equipment Notes.
The Company shall not (A) redeem any Series B Equipment Notes (or any
Additional Series Equipment Notes) and issue new Equipment Notes with the same Series
designation as that of the redeemed Equipment Notes, or (B) issue any
Additional Series Equipment Notes, in each case, under any Indenture, unless the
Company shall have obtained a Rating Agency Confirmation with respect to any Class of
Certificates then rated by such Rating Agency that will remain outstanding in
connection with such issuance or such redemption and issuance, as applicable; and any
such issuance or redemption and issuance, as applicable, shall be subject to the
terms of Section 8.01(c) or 8.01(d), as applicable, of the
Intercreditor Agreement. If any such new Equipment Notes or Additional Series
Equipment Notes are to be so issued, the pass through trustee of the pass through
trust that acquires such new Equipment Notes or the Additional Series Pass Through
Trustee, as applicable, shall execute and deliver an instrument by which such pass
through trustee or Additional Series Pass Through Trustee, as applicable, becomes a
party hereto, and each of the parties hereto agrees, at the Company’s request, to
enter into any amendments to this Note Purchase Agreement (including, without
limitation, any modifications of the Indenture Form and the Participation Agreement
Form) and any other Operative Agreements as may be necessary or desirable to give
effect to such issuance or redemption and issuance of any such new Equipment Notes or
Additional Series Equipment Notes, as applicable, and the issuance of pass through
certificates by any pass through trust that acquires any such new Equipment Notes or
Additional Series Equipment Notes, as applicable, and to make changes relating to any
of the foregoing (including, without limitation, to provide for any prefunding
mechanism in connection therewith) and to provide

Note Purchase Agreement

2009-1 EETC

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for any credit support for any pass through certificates relating to any such
new Equipment Notes or Additional Series Equipment Notes (including, without
limitation, to provide for payment of fees, interest, expenses, reimbursement of
advances and other obligations arising from such credit support).

     (vi) Certain Reports to Subordination Agent. Promptly after the
occurrence of a Triggering Event or an Indenture Event of 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 Event of Default shall
be continuing, the Company shall, 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 lien of an 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 Indentures to which such Aircraft are subject). As used in this
Section 4(a)(vi), the terms “Triggering Event”, “Indenture Event of Default”
and “Regular Distribution Date” have the respective meanings set forth in the
Intercreditor Agreement.

     (b) Covenants by U.S. Bank.

     (i) Status as Citizen of the United States. U.S. Bank, in its
individual capacity, covenants with each of the other parties to this Note Purchase
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 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 U.S. Bank giving any such notice,
U.S. Bank shall, subject to Section 8.01 of any Indenture then entered into,
resign as Loan Trustee in respect of such Indenture.

     (ii) Situs of Activity. Except with the consent of the Company, which
shall not be unreasonably withheld: (A) U.S. Bank will act as Pass Through
Trustee solely through its offices within the State of Delaware, except for such
services as may be performed for it by independent agents in the ordinary course of
business, but not directly by it, in other states; and (B) U.S. Bank will act
as Subordination Agent solely through its offices within the Commonwealth of
Massachusetts, except for such services as may be performed by it by independent
agents acting in the ordinary course of business, but not directly by it, in other
states.

     (c) [Intentionally Omitted].

     (d) Covenants by the Pass Through Trustees.

Note Purchase Agreement

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     (i) Tax Forms of the Pass Through Trustees. On or prior to the date
this Note Purchase Agreement is executed, each Pass Through Trustee shall have
provided a completed and executed copy of IRS Form W-9 to each of the Company, the
Subordination Agent, the Liquidity Providers, the Escrow Agent, the Paying Agent and
the Depositary.

     (ii) Tax Forms of Additional Series Pass Through Trustee. If any new
Equipment Notes or Additional Series Equipment Notes shall be issued under any
Indenture as provided in Section 4(a)(v), on or prior to the date such new Equipment
Notes or Additional Series Equipment Notes, as applicable, shall have been so issued,
the pass through trustee of the pass through trust that acquires such new Equipment
Notes or the Additional Series Pass Through Trustee, as applicable, shall have
provided a completed and executed copy of IRS Form W-9 to each of the Company and the
Subordination Agent and, if a liquidity facility shall have been provided with
respect to the Additional Series Pass Through Trust, to the provider of such
liquidity facility and, if such Additional Series Equipment Notes or such New
Equipment Notes shall be issued on or prior to the Delivery Period Termination Date,
to the Escrow Agent, the Paying Agent and the Depositary.

          SECTION 5. Depositary Downgrade and Replacement of Depositary.

     (a) Depositary Downgrade and Option to Replace. If (1) the
Depositary’s Short-Term Rating issued by a Rating Agency is downgraded below P-1 by Moody’s
or A-1+ by Standard & Poor’s, as applicable (each such minimum rating, a “Depositary
Threshold Rating”), or (2) the Company, in its sole discretion, gives written
notice to the Depositary of the Company’s 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 meeting the terms and on the conditions set forth in
Section 5(c) (a “Replacement Depositary”).

     (b) [Intentionally Omitted.]

     (c) Terms and Preconditions for Replacement of Depositary.

     (i) Minimum Credit Ratings; Confirmation from Ratings Agency. Any
Replacement Depositary may either be (x) one that meets the Depositary
Threshold Ratings or (y) one that does not meet the Depositary Threshold
Ratings, so long as, in the case of either of the immediately preceding clauses (x)
and (y), the Company shall have obtained a Rating Agency Confirmation with respect to
each Class of Certificates then rated by such Rating Agency in connection with the
replacement of the Depositary with such Replacement Depositary.

     (ii) Certain Fees and Expenses. The Company shall pay all fees,
expenses and other amounts then owing to the replaced Depositary. The Company shall
also

Note Purchase Agreement

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14

 

pay (x) any up-front fee of the Replacement Depositary and (y)
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.

     (iii) Replacement Deposit Agreements; Opinions and Other Closing
Requirements. The Company shall cause the Replacement Depositary to enter into a
Replacement Deposit Agreement for each of the Class A Certificates and the Class B
Certificates with the Escrow Agent (and the Escrow Agent agrees to enter into any
such Replacement Deposit Agreement upon request of the Company) 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.

     (d) Withdrawal Certificate and Notice of Replacement Withdrawal. Upon
satisfaction of the conditions set forth in Section 5(c), the Company shall instruct
each Pass Through Trustee, and each 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).

     (e) Amendments to Documents. Each of the parties hereto agrees, at the
Company’s request, to enter into any amendments to this Note Purchase 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.

     (f) Effect of Replacement. Until the execution and delivery of the Replacement
Deposit Agreements, the Deposit Agreements with the Depositary being replaced shall remain
in full force and effect. Upon the execution and delivery of the Replacement Deposit
Agreements, the Replacement Depositary shall be deemed to be the Depositary under the
Deposit Agreements 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.

          SECTION 6. Notices. Unless otherwise expressly specified or permitted by the terms
hereof, all notices, requests, demands, authorizations, directions, consents or waivers required or
permitted by the terms and provisions of this Note Purchase Agreement shall be in English and in
writing, and given by United States registered or certified mail, return receipt requested,
overnight courier service or facsimile, and any such notice shall be effective when received (or,
if delivered by facsimile, upon completion of transmission and confirmation by the

Note Purchase Agreement

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sender (by a telephone call to a representative of the recipient or by machine confirmation)
that such transmission was received) to the relevant party hereto at the address or facsimile
number set forth below the signature of such party at the foot of this Note Purchase Agreement or
to such other address or facsimile number as such party may hereafter specify by notice to the
other parties.

          SECTION 7. Expenses. (a) Payments in Respect of Certain Liquidity Provider
Fees. The Company agrees to pay to the Subordination Agent when due an amount or amounts equal
to the fees payable to the applicable Liquidity Provider under Section 2.03 of each Liquidity
Facility and under 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 Pass Through Trust and the Class B Pass
Through Trust and the denominator of which shall be the sum of (i) the then outstanding
aggregate principal amount of the Series A Equipment Notes and Series B Equipment Notes issued
under all of the Indentures and (ii) the then outstanding aggregate amount of the Deposits
under the Deposit Agreements pertaining to the Class A Pass Through Trust and Class B Pass Through
Trust.

     (b) Certain Other Expenses. So long as no Equipment Notes have been issued in
respect of any Aircraft, the Company agrees to pay:

     (i) Under the Liquidity Facilities. 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 and (B)
any other amounts owed to the applicable 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 extent payable
pursuant to clause (A) of this sentence);

     (ii) Under the Pass Through Trust Agreements. All compensation and
reimbursement of expenses, disbursements and advances payable by the Company under
the Pass Through Trust Agreements;

     (iii) Under the Intercreditor Agreement. 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) Escrow Agent and Paying Agent. 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.

Note Purchase Agreement

2009-1 EETC

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For purposes of this Section 7(b), the terms “Applied Downgrade Advance”, “Downgrade Advance” and
“Investment Earnings” shall have the meanings specified in each Liquidity Facility.

          SECTION 8. 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 Note Purchase Agreement.

          SECTION 9. Miscellaneous.

     (a) Survival of Representations and Covenants. Provided that the transactions
contemplated hereby have been consummated, 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 each Pass Through Trustee, and the Company’s, the
Subordination Agent’s, the Escrow Agent’s, the Paying Agent’s and each Pass Through
Trustee’s obligations under any and all thereof, shall survive the expiration or other
termination of this Note Purchase Agreement and the other agreements referred to herein.

     (b) Counterparts; Amendments; Effect of Headings; Successors and Assigns. This
Note Purchase 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 Note Purchase Agreement, including a signature page executed by each of the parties
hereto, shall be an original counterpart of this Note Purchase Agreement, but all of such
counterparts together shall constitute one instrument. Neither this Note Purchase 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 Table of Contents to this Note Purchase Agreement and the headings of the various
Sections and Subsections of this Note Purchase 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 Note Purchase 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 Agreements and the Subordination Agent and its
successors as Subordination Agent under the Intercreditor Agreement.

Note Purchase Agreement

2009-1 EETC

17

 

     (c) Benefits of Agreement. This Note Purchase 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 7 hereof, and the Depositary as a beneficiary of Section
5(c)(ii) hereof) 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 7 hereof, and the Depositary as a beneficiary of Section
5(c)(ii) hereof) shall have any right, power or privilege in respect of, or have any
benefit or interest arising out of, this Note Purchase Agreement. To the extent that this
Note Purchase Agreement expressly confers upon, gives or grants any right, power, privilege,
benefit, interest, remedy or claim to any of the beneficiaries of Section 7 hereof
(including, but not limited to, rights, powers, privileges, benefits, interests, remedies
and claims under Section 7) or to the Depositary with respect to Section 5(c)(ii)
hereof, 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 10. Governing Law. THIS NOTE PURCHASE AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF
CONSTRUCTION, VALIDITY AND PERFORMANCE. THIS NOTE PURCHASE AGREEMENT IS BEING DELIVERED IN THE
STATE OF NEW YORK.

[Signature Pages Follow.]

Note Purchase Agreement

2009-1 EETC

18

 

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

	 	 	 	 	 	 	 	 	 
	 	 	DELTA AIR LINES, INC.
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Paul A. Jacobson
	 	 	 	 	 
	 	 	 	 	Name: Paul A. Jacobson
	 	 	 	 	Title: Senior Vice President and Treasurer
	 

	 	 	 	Address:
	 	 	 	1030 Delta Boulevard
	 

	 	 	 	 	 	 	 	Atlanta, Georgia 30354
	 

	 	 	 	 	 	 	 	Ref.: Delta Air Lines 2009-1 EETC
	 

	 	 	 	 	 	 	 	Attention: Treasurer
	 

	 	 	 	 	 	 	 	Telephone: (404) 715-6583
	 

	 	 	 	 	 	 	 	Facsimile: (404) 773-7345

Signature Page

Note Purchase Agreement

2009-1 EETC

 

 

	 	 	 	 	 	 	 	 	 
	 	 	U.S. BANK TRUST NATIONAL ASSOCIATION,

not in its individual capacity, except as otherwise

provided herein, but solely as Pass Through Trustee
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	 /s/ Alison D.B. Nadeau
	 	 	 	 	 
	 

	 	 	 	Name: Alison D.B. Nadeau
	 

	 	 	 	Title: Vice President

	 

	 	 	 	Address:
	 	 	 	300 Delaware Avenue, 9th
Floor 
 Mail Code EX-DE-WDAW 
Wilmington, Delaware
19801 
Attention: Corporate Trust Services

Ref.: Delta Air Lines 2009-1 EETC

Telephone: (302) 576-3703 
Facsimile: (302)
576-3717

	 	 	 	 	 	 	 	 	 
	 	 	U.S. BANK TRUST NATIONAL ASSOCIATION,

not in its individual capacity, except as otherwise

provided herein, but solely as Subordination Agent
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Alison D.B. Nadeau
	 	 	 	 	 
	 	 	 	 	Name: Alison D.B. Nadeau
	 	 	 	 	Title: Vice President
	 

	 	 	 	Address:
	 	 	 	One Federal Street, 3rd Floor

Mail Code EX-MA-FED 
Boston, Massachusetts 02110

Attention: Corporate Trust Services
 Ref.: Delta
Air Lines 2009-1 EETC

Telephone: (617) 603-6553
 Facsimile: (617)
603-6683

Signature Page

Note Purchase Agreement

2009-1 EETC

 

 

	 	 	 	 	 	 	 	 	 
	 

	 	U.S. BANK NATIONAL ASSOCIATION, not in 
its individual capacity, except as otherwise provided

herein, but solely as Escrow Agent

	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Alison D.B. Nadeau
	 	 	 	 	 
	 

	 	 	 	Name: Alison D.B. Nadeau

	 	 	 	 	Title: Vice President
	 

	 	 	 	Address:
	 	 	 	One Federal Street, 3rd Floor

Boston, Massachusetts 02110
 Attention: Corporate
Trust Services
 Ref.: Delta Air Lines 2009-1 EETC

Telephone: (617) 603-6553
 Facsimile: (617)
603-6683

	 	 	 	 	 	 	 	 	 
	 	 	U.S. BANK TRUST NATIONAL ASSOCIATION, 
not in its
individual capacity, except as otherwise
 provided
herein, but solely as Paying Agent
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Alison D.B. Nadeau
	 	 	 	 	 
	 

	 	 	 	Name: Alison D.B. Nadeau

	 

	 	 	 	Title: Vice President

	 

	 	 	 	Address:
	 	 	 	One Federal Street, 3rd
Floor
 Mail Code EX-MA-FED 
Boston, Massachusetts
02110 
Attention: Corporate Trust Services
 Ref.: Delta Air Lines 2009-1 EETC

Telephone: (617) 603-6553 
Facsimile: (617)
603-6683

Signature Page

Note Purchase Agreement

2009-1 EETC

 

 

SCHEDULE I to

NOTE PURCHASE AGREEMENT

AIRCRAFT

Part One — 2000-1 Aircraft and Existing Financings 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	U.S.	 	 	 	Airframe Model (including	 	 	 	 	 	 	 	Engine Model	 	 
	 	 	Registration	 	Airframe	 	generic manufacturer and	 	Airframe	 	 	 	(including generic	 	 
	No.	 	No.	 	Manufacturer	 	model)	 	MSN	 	Engine Manufacturer	 	manufacturer and model)	 	Existing Financing
	1.

	 	N376DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	29624	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	2.

	 	N378DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	30265	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	3.

	 	N380DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	30266	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	4.

	 	N382DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	30345	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	5.

	 	N384DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	30347	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	6.

	 	N386DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	30373	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	7.

	 	N388DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	30375	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	8.

	 	N390DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	30536	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	9.

	 	N392DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	30561	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	10.

	 	N394DA
	 	Boeing
	 	737-832

(BOEING 737-800)
	 	 	30562	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2000-1 EETC
	11.

	 	N696DL
	 	Boeing
	 	757-232

(BOEING 757-200)
	 	 	29728	 	 	Pratt & Whitney
	 	PW2037

(PRATT & WHITNEY

PW2037)
	 	2000-1 EETC
	12.

	 	N698DL
	 	Boeing
	 	757-232

(BOEING 757-200)
	 	 	29911	 	 	Pratt & Whitney
	 	PW2037

(PRATT & WHITNEY

PW2037)
	 	2000-1 EETC
	13.

	 	N6700
	 	Boeing
	 	757-232

(BOEING 757-200)
	 	 	30337	 	 	Pratt & Whitney
	 	PW2037

(PRATT & WHITNEY

PW2037)
	 	2000-1 EETC

Note Purchase Agreement

2009-1 EETC

 

 

SCHEDULE I to

NOTE PURCHASE AGREEMENT

(Cont’d)

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	U.S.	 	 	 	Airframe Model (including	 	 	 	 	 	 	 	Engine Model	 	 
	 	 	Registration	 	Airframe	 	generic manufacturer and	 	Airframe	 	 	 	(including generic	 	 
	No.	 	No.	 	Manufacturer	 	model)	 	MSN	 	Engine Manufacturer	 	manufacturer and model)	 	Existing Financing
	14.

	 	N6702
	 	Boeing
	 	757-232

(BOEING 757-200)
	 	 	30188	 	 	Pratt & Whitney
	 	PW2037

(PRATT & WHITNEY PW2037)
	 	2000-1 EETC
	15.

	 	N6704Z
	 	Boeing
	 	757-232

(BOEING 757-200)
	 	 	30396	 	 	Pratt & Whitney
	 	PW2037

(PRATT & WHITNEY PW2037)
	 	2000-1 EETC
	16.

	 	N6706Q
	 	Boeing
	 	757-232

(BOEING 757-200)
	 	 	30422	 	 	Pratt & Whitney
	 	PW2037

(PRATT & WHITNEY PW2037)
	 	2000-1 EETC
	17.

	 	N6708D
	 	Boeing
	 	757-232

(BOEING 757-200)
	 	 	30480	 	 	Pratt & Whitney
	 	PW2037

(PRATT & WHITNEY PW2037)
	 	2000-1 EETC
	18.

	 	N6710E
	 	Boeing
	 	757-232

(BOEING 757-200)
	 	 	30482	 	 	Pratt & Whitney
	 	PW2037

(PRATT & WHITNEY PW2037)
	 	2000-1 EETC
	19.

	 	N6712B
	 	Boeing
	 	757-232

(BOEING 757-200)
	 	 	30484	 	 	Pratt & Whitney
	 	PW2037

(PRATT & WHITNEY PW2037)
	 	2000-1 EETC
	20.

	 	N1602
	 	Boeing
	 	767-332ER

(BOEING 767-300)
	 	 	29694	 	 	General Electric
	 	CF6-80C2B6F

(GE CF6-80C2)
	 	2000-1 EETC
	21.

	 	N1604R
	 	Boeing
	 	767-332ER

(BOEING 767-300)
	 	 	30180	 	 	General Electric
	 	CF6-80C2B6F

(GE CF6-80C2)
	 	2000-1 EETC
	22.

	 	N16065
	 	Boeing
	 	767-332ER

(BOEING 767-300)
	 	 	30199	 	 	General Electric
	 	CF6-80C2B6F

(GE CF6-80C2)
	 	2000-1 EETC

Note Purchase Agreement

2009-1 EETC

 Sch. I - 2

 

SCHEDULE I to

NOTE PURCHASE AGREEMENT

(Cont’d)

Part Two — 2009 Aircraft and Existing Financings

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	U.S.	 	 	 	Airframe Model	 	 	 	 	 	 	 	Engine Model	 	 
	 	 	Registration	 	Airframe	 	(including generic	 	Airframe	 	 	 	(including generic	 	 
	No.	 	No.	 	Manufacturer	 	manufacturer and model)	 	MSN	 	Engine Manufacturer	 	manufacturer and model)	 	Existing Financing
	1.

	 	N705DN
	 	Boeing
	 	777-232LR

(BOEING 777-200)
	 	 	29742	 	 	General Electric
	 	GE90-110B1L2

(GE GE90-110B)
	 	2009 Mortgage

Financing
	2.

	 	N706DN
	 	Boeing
	 	777-232LR

(BOEING 777-200)
	 	 	30440	 	 	General Electric
	 	GE90-110B1L2

(GE GE90-110B)
	 	2009 Mortgage

Financing
	3.

	 	N707DN
	 	Boeing
	 	777-232LR

(BOEING 777-200)
	 	 	39091	 	 	General Electric
	 	GE90-110B1L2

(GE GE90-110B)
	 	2009 Mortgage

Financing
	4.

	 	N306DQ
	 	Boeing
	 	737-732

(BOEING 737-700)
	 	 	29633	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2009 Mortgage

Financing
	5.

	 	N307DQ
	 	Boeing
	 	737-732

(BOEING 737-700)
	 	 	29679	 	 	CFM International,
Inc.
	 	CFM56-7B24

(CFM CFM56-7)
	 	2009 Mortgage

Financing

Note Purchase Agreement

2009-1 EETC

 Sch. I - 3

 

SCHEDULE II to

NOTE PURCHASE AGREEMENT

TRUST SUPPLEMENTS

Trust Supplement No. 2009-1A, dated as of the Issuance Date, between the Company and the Pass
Through Trustee in respect of the Delta Air Lines Pass Through Trust, Series 2009-1A.

Trust Supplement No. 2009-1B, dated as of the Issuance Date, between the Company and the Pass
Through Trustee in respect of the Delta Air Lines Pass Through Trust, Series 2009-1B.

Note Purchase Agreement

2009-1 EETC

 

 

SCHEDULE III to

NOTE PURCHASE AGREEMENT

REQUIRED TERMS

Equipment Notes

	 	 	 
	Obligor:

	 	The Company

Maximum Principal Amount:

The original principal amount and amortization schedule of the Series A Equipment Notes and the
Series B Equipment Notes issued with respect to an Aircraft shall be as set forth in the following
tables:

PRINCIPAL AMOUNTS OF EQUIPMENT NOTES

	 	 	 	 	 	 	 	 	 	 	 	 
	Aircraft	 	Series A	 	 	Series B	 	 	Total
	N306DQ
	 	$	21,371,000	 	 	$	4,663,000	 	 	$	26,034,000
	N307DQ
	 	 	21,376,000	 	 	 	4,664,000	 	 	 	26,040,000
	N376DA
	 	 	12,262,000	 	 	 	2,498,000	 	 	 	14,760,000
	N378DA
	 	 	12,659,000	 	 	 	2,579,000	 	 	 	15,238,000
	N380DA
	 	 	12,685,000	 	 	 	2,584,000	 	 	 	15,269,000
	N382DA
	 	 	13,261,000	 	 	 	2,702,000	 	 	 	15,963,000
	N384DA
	 	 	13,308,000	 	 	 	2,711,000	 	 	 	16,019,000
	N386DA
	 	 	13,325,000	 	 	 	2,715,000	 	 	 	16,040,000
	N388DA
	 	 	13,247,000	 	 	 	2,699,000	 	 	 	15,946,000
	N390DA
	 	 	13,798,000	 	 	 	2,811,000	 	 	 	16,609,000
	N392DA
	 	 	13,477,000	 	 	 	2,746,000	 	 	 	16,223,000
	N394DA
	 	 	14,000,000	 	 	 	2,852,000	 	 	 	16,852,000
	N696DL
	 	 	10,367,000	 	 	 	2,112,000	 	 	 	12,479,000
	N698DL
	 	 	10,649,000	 	 	 	2,170,000	 	 	 	12,819,000
	N6700
	 	 	10,820,000	 	 	 	2,205,000	 	 	 	13,025,000
	N6702
	 	 	10,764,000	 	 	 	2,193,000	 	 	 	12,957,000
	N6704Z
	 	 	11,009,000	 	 	 	2,243,000	 	 	 	13,252,000
	N6706Q
	 	 	11,016,000	 	 	 	2,244,000	 	 	 	13,260,000
	N6708D
	 	 	11,155,000	 	 	 	2,273,000	 	 	 	13,428,000
	N6710E
	 	 	11,301,000	 	 	 	2,302,000	 	 	 	13,603,000
	N6712B
	 	 	11,418,000	 	 	 	2,326,000	 	 	 	13,744,000
	N1602
	 	 	18,740,000	 	 	 	3,818,000	 	 	 	22,558,000
	N1604R
	 	 	19,136,000	 	 	 	3,899,000	 	 	 	23,035,000
	N16065
	 	 	19,415,000	 	 	 	3,955,000	 	 	 	23,370,000
	N705DN
	 	 	79,425,000	 	 	 	17,329,000	 	 	 	96,754,000
	N706DN
	 	 	79,423,000	 	 	 	17,329,000	 	 	 	96,752,000
	N707DN
	 	 	79,389,000	 	 	 	17,322,000	 	 	 	96,711,000
	 
	 	 	 	 	 	 	 	 
	 
	 	$	568,796,000	 	 	$	119,944,000	 	 	$	688,740,000
	 
	 	 	 	 	 	 	 	 

Note Purchase Agreement

2009-1 EETC

 

 

AMORTIZATION SCHEDULES

Series A Equipment Notes

Boeing 737-732

N306DQ

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	3.3406789107	%
	December 17, 2010
	 	 	1.5182092555	 
	June 17, 2011
	 	 	2.3850879697	 
	December 17, 2011
	 	 	4.7448723972	 
	June 17, 2012
	 	 	4.6380355154	 
	December 17, 2012
	 	 	4.5311985401	 
	June 17, 2013
	 	 	4.4243615647	 
	December 17, 2013
	 	 	4.3175246830	 
	June 17, 2014
	 	 	4.2106877076	 
	December 17, 2014
	 	 	4.1038507323	 
	June 17, 2015
	 	 	3.9970138038	 
	December 17, 2015
	 	 	3.8901768752	 
	June 17, 2016
	 	 	4.0738614478	 
	December 17, 2016
	 	 	3.9557784849	 
	June 17, 2017
	 	 	3.8376955688	 
	December 17, 2017
	 	 	3.7196126059	 
	June 17, 2018
	 	 	3.6015296898	 
	December 17, 2018
	 	 	3.4834467269	 
	June 17, 2019
	 	 	3.3653638108	 
	December 17, 2019
	 	 	27.8610137102	 

Series B Equipment Notes

Boeing 737-732

N306DQ

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	9.75937508	%
	December 17, 2010
	 	 	9.49223140	 
	June 17, 2011
	 	 	21.15350204	 
	December 17, 2011
	 	 	24.41779863	 
	June 17, 2012
	 	 	0.57984238	 
	December 17, 2012
	 	 	0.57984216	 
	June 17, 2013
	 	 	0.57984216	 
	December 17, 2013
	 	 	0.57984216	 
	June 17, 2014
	 	 	0.57984216	 
	December 17, 2014
	 	 	0.57984216	 
	June 17, 2015
	 	 	0.57984216	 
	December 17, 2015
	 	 	0.57984216	 
	June 17, 2016
	 	 	0.57984238	 
	December 17, 2016
	 	 	29.95851297	 

Note Purchase Agreement

2009-1 EETC

Sch. III-2

 

Series A Equipment Notes

Boeing 737-732

N307DQ

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	3.3400749906	%
	December 17, 2010
	 	 	1.5182187500	 
	June 17, 2011
	 	 	2.3851028256	 
	December 17, 2011
	 	 	4.7449020865	 
	June 17, 2012
	 	 	4.6380644648	 
	December 17, 2012
	 	 	4.5312268432	 
	June 17, 2013
	 	 	4.4243892683	 
	December 17, 2013
	 	 	4.3175515999	 
	June 17, 2014
	 	 	4.2107140251	 
	December 17, 2014
	 	 	4.1038764034	 
	June 17, 2015
	 	 	3.9970387818	 
	December 17, 2015
	 	 	3.8902011602	 
	June 17, 2016
	 	 	4.0738868825	 
	December 17, 2016
	 	 	3.9558032373	 
	June 17, 2017
	 	 	3.8377194985	 
	December 17, 2017
	 	 	3.7196358533	 
	June 17, 2018
	 	 	3.6015522081	 
	December 17, 2018
	 	 	3.4834685161	 
	June 17, 2019
	 	 	3.3653847773	 
	December 17, 2019
	 	 	27.8611878275	 

Series B Equipment Notes

Boeing 737-732

N307DQ

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	9.75705124	%
	December 17, 2010
	 	 	9.49247577	 
	June 17, 2011
	 	 	21.15404674	 
	December 17, 2011
	 	 	24.41842753	 
	June 17, 2012
	 	 	0.57985720	 
	December 17, 2012
	 	 	0.57985720	 
	June 17, 2013
	 	 	0.57985699	 
	December 17, 2013
	 	 	0.57985720	 
	June 17, 2014
	 	 	0.57985699	 
	December 17, 2014
	 	 	0.57985720	 
	June 17, 2015
	 	 	0.57985720	 
	December 17, 2015
	 	 	0.57985699	 
	June 17, 2016
	 	 	0.57985720	 
	December 17, 2016
	 	 	29.95928452	 

Note Purchase Agreement

2009-1 EETC

Sch. III-3

 

Series A Equipment Notes

Boeing 737-832

N376DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.9533518186	%
	December 17, 2011
	 	 	6.8539130648	 
	June 17, 2012
	 	 	6.6203284130	 
	December 17, 2012
	 	 	6.3946354591	 
	June 17, 2013
	 	 	6.1689424237	 
	December 17, 2013
	 	 	5.9432494699	 
	June 17, 2014
	 	 	6.2441733812	 
	December 17, 2014
	 	 	5.9432494699	 
	June 17, 2015
	 	 	5.5005438754	 
	December 17, 2015
	 	 	5.2111938509	 
	June 17, 2016
	 	 	4.9218438265	 
	December 17, 2016
	 	 	4.6324938835	 
	June 17, 2017
	 	 	4.3431437775	 
	December 17, 2017
	 	 	4.0537937531	 
	June 17, 2018
	 	 	3.7644438101	 
	December 17, 2018
	 	 	3.4750937041	 
	June 17, 2019
	 	 	3.1503961018	 
	December 17, 2019
	 	 	10.8252099168	 

Series B Equipment Notes

Boeing 737-832

N376DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.10586069	%
	December 17, 2011
	 	 	3.65027462	 
	June 17, 2012
	 	 	3.56505404	 
	December 17, 2012
	 	 	3.47983347	 
	June 17, 2013
	 	 	3.39461329	 
	December 17, 2013
	 	 	3.30939271	 
	June 17, 2014
	 	 	3.77810528	 
	December 17, 2014
	 	 	3.66447758	 
	June 17, 2015
	 	 	4.24681745	 
	December 17, 2015
	 	 	4.07637670	 
	June 17, 2016
	 	 	3.90593555	 
	December 17, 2016
	 	 	42.82325861	 

Note Purchase Agreement

2009-1 EETC

Sch. III-4

 

Series A Equipment Notes

Boeing 737-832

N378DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.9088395608	%
	December 17, 2011
	 	 	6.8007355241	 
	June 17, 2012
	 	 	6.5789414646	 
	December 17, 2012
	 	 	6.3584183585	 
	June 17, 2013
	 	 	6.1378951734	 
	December 17, 2013
	 	 	5.9173719093	 
	June 17, 2014
	 	 	5.6968488032	 
	December 17, 2014
	 	 	5.9541258393	 
	June 17, 2015
	 	 	5.5159067067	 
	December 17, 2015
	 	 	5.2331846117	 
	June 17, 2016
	 	 	4.9504626748	 
	December 17, 2016
	 	 	4.6677405798	 
	June 17, 2017
	 	 	4.3850186429	 
	December 17, 2017
	 	 	4.1022965479	 
	June 17, 2018
	 	 	3.8195745320	 
	December 17, 2018
	 	 	3.5368525160	 
	June 17, 2019
	 	 	3.2541305000	 
	December 17, 2019
	 	 	11.1816560550	 

Series B Equipment Notes

Boeing 737-832

N378DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.06625087	%
	December 17, 2011
	 	 	3.60812059	 
	June 17, 2012
	 	 	3.52485653	 
	December 17, 2012
	 	 	3.44159170	 
	June 17, 2013
	 	 	3.35832765	 
	December 17, 2013
	 	 	3.27506359	 
	June 17, 2014
	 	 	3.19179876	 
	December 17, 2014
	 	 	3.63587553	 
	June 17, 2015
	 	 	4.23260295	 
	December 17, 2015
	 	 	4.06607445	 
	June 17, 2016
	 	 	3.89954595	 
	December 17, 2016
	 	 	43.69989143	 

Note Purchase Agreement

2009-1 EETC

Sch. III-5

 

Series A Equipment Notes

Boeing 737-832

N380DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8573117856	%
	December 17, 2011
	 	 	6.7582171857	 
	June 17, 2012
	 	 	6.5394628301	 
	December 17, 2012
	 	 	6.3238762318	 
	June 17, 2013
	 	 	6.1082894758	 
	December 17, 2013
	 	 	5.8927028774	 
	June 17, 2014
	 	 	5.6771161214	 
	December 17, 2014
	 	 	5.4615294442	 
	June 17, 2015
	 	 	5.5306276705	 
	December 17, 2015
	 	 	5.2542346078	 
	June 17, 2016
	 	 	4.9778413086	 
	December 17, 2016
	 	 	4.7014481671	 
	June 17, 2017
	 	 	4.4250550256	 
	December 17, 2017
	 	 	4.1486617264	 
	June 17, 2018
	 	 	3.8722686638	 
	December 17, 2018
	 	 	3.5958753646	 
	June 17, 2019
	 	 	3.3194822231	 
	December 17, 2019
	 	 	11.5559992905	 

Series B Equipment Notes

Boeing 737-832

N380DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.01489667	%
	December 17, 2011
	 	 	3.56846169	 
	June 17, 2012
	 	 	3.48705186	 
	December 17, 2012
	 	 	3.40564241	 
	June 17, 2013
	 	 	3.32423259	 
	December 17, 2013
	 	 	3.24282237	 
	June 17, 2014
	 	 	3.16141293	 
	December 17, 2014
	 	 	3.08000348	 
	June 17, 2015
	 	 	4.21973994	 
	December 17, 2015
	 	 	4.05692028	 
	June 17, 2016
	 	 	3.89410101	 
	December 17, 2016
	 	 	44.54471478	 

Note Purchase Agreement

2009-1 EETC

Sch. III-6

 

Series A Equipment Notes

Boeing 737-832

N382DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8592866300	%
	December 17, 2011
	 	 	6.7565284669	 
	June 17, 2012
	 	 	6.5394414448	 
	December 17, 2012
	 	 	6.3238555162	 
	June 17, 2013
	 	 	6.1082695121	 
	December 17, 2013
	 	 	5.8926835080	 
	June 17, 2014
	 	 	5.6770975040	 
	December 17, 2014
	 	 	5.4615115753	 
	June 17, 2015
	 	 	5.5306096071	 
	December 17, 2015
	 	 	5.2542174044	 
	June 17, 2016
	 	 	4.9778250509	 
	December 17, 2016
	 	 	4.7014327728	 
	June 17, 2017
	 	 	4.4250404947	 
	December 17, 2017
	 	 	4.1486481412	 
	June 17, 2018
	 	 	3.8722559385	 
	December 17, 2018
	 	 	3.5958636604	 
	June 17, 2019
	 	 	3.3194713068	 
	December 17, 2019
	 	 	11.5559614660	 

Series B Equipment Notes

Boeing 737-832

N382DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.03486825	%
	December 17, 2011
	 	 	3.56757069	 
	June 17, 2012
	 	 	3.48618135	 
	December 17, 2012
	 	 	3.40479201	 
	June 17, 2013
	 	 	3.32340229	 
	December 17, 2013
	 	 	3.24201295	 
	June 17, 2014
	 	 	3.16062361	 
	December 17, 2014
	 	 	3.07923427	 
	June 17, 2015
	 	 	4.21868616	 
	December 17, 2015
	 	 	4.05590748	 
	June 17, 2016
	 	 	3.89312842	 
	December 17, 2016
	 	 	44.53359252	 

Note Purchase Agreement

2009-1 EETC

Sch. III-7

 

Series A Equipment Notes

Boeing 737-832

N384DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8536218816	%
	December 17, 2011
	 	 	6.7619660355	 
	June 17, 2012
	 	 	6.5394584460	 
	December 17, 2012
	 	 	6.3238719567	 
	June 17, 2013
	 	 	6.1082853922	 
	December 17, 2013
	 	 	5.8926988278	 
	June 17, 2014
	 	 	5.6771122633	 
	December 17, 2014
	 	 	5.4615257740	 
	June 17, 2015
	 	 	5.5306239856	 
	December 17, 2015
	 	 	5.2542310640	 
	June 17, 2016
	 	 	4.9778379922	 
	December 17, 2016
	 	 	4.7014449955	 
	June 17, 2017
	 	 	4.4250519988	 
	December 17, 2017
	 	 	4.1486589270	 
	June 17, 2018
	 	 	3.8722660054	 
	December 17, 2018
	 	 	3.5958730087	 
	June 17, 2019
	 	 	3.3194799369	 
	December 17, 2019
	 	 	11.5559915089	 

Series B Equipment Notes

Boeing 737-832

N384DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.01765548	%
	December 17, 2011
	 	 	3.56833862	 
	June 17, 2012
	 	 	3.48693176	 
	December 17, 2012
	 	 	3.40552490	 
	June 17, 2013
	 	 	3.32411767	 
	December 17, 2013
	 	 	3.24271081	 
	June 17, 2014
	 	 	3.16130395	 
	December 17, 2014
	 	 	3.07989709	 
	June 17, 2015
	 	 	4.21959425	 
	December 17, 2015
	 	 	4.05678052	 
	June 17, 2016
	 	 	3.89396643	 
	December 17, 2016
	 	 	44.54317853	 

Note Purchase Agreement

2009-1 EETC

Sch. III-8

 

Series A Equipment Notes

Boeing 737-832

N386DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8536585366	%
	December 17, 2011
	 	 	6.7615590994	 
	June 17, 2012
	 	 	6.5394862289	 
	December 17, 2012
	 	 	6.3238986867	 
	June 17, 2013
	 	 	6.1083112946	 
	December 17, 2013
	 	 	5.8927237523	 
	June 17, 2014
	 	 	5.6771363602	 
	December 17, 2014
	 	 	5.4615488931	 
	June 17, 2015
	 	 	5.5306475047	 
	December 17, 2015
	 	 	5.2542532083	 
	June 17, 2016
	 	 	4.9778591370	 
	December 17, 2016
	 	 	4.7014649156	 
	June 17, 2017
	 	 	4.4250706942	 
	December 17, 2017
	 	 	4.1486766229	 
	June 17, 2018
	 	 	3.8722823265	 
	December 17, 2018
	 	 	3.5958882552	 
	June 17, 2019
	 	 	3.3194940338	 
	December 17, 2019
	 	 	11.5560404503	 

Series B Equipment Notes

Boeing 737-832

N386DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.03313333	%
	December 17, 2011
	 	 	3.56764825	 
	June 17, 2012
	 	 	3.48625709	 
	December 17, 2012
	 	 	3.40486556	 
	June 17, 2013
	 	 	3.32347440	 
	December 17, 2013
	 	 	3.24208361	 
	June 17, 2014
	 	 	3.16069208	 
	December 17, 2014
	 	 	3.07930055	 
	June 17, 2015
	 	 	4.21877790	 
	December 17, 2015
	 	 	4.05599558	 
	June 17, 2016
	 	 	3.89321289	 
	December 17, 2016
	 	 	44.53455875	 

Note Purchase Agreement

2009-1 EETC

Sch. III-9

 

Series A Equipment Notes

Boeing 737-832

N388DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8579300974	%
	December 17, 2011
	 	 	6.7621362573	 
	June 17, 2012
	 	 	6.5391233487	 
	December 17, 2012
	 	 	6.3235478221	 
	June 17, 2013
	 	 	6.1079722956	 
	December 17, 2013
	 	 	5.8923968446	 
	June 17, 2014
	 	 	5.6768213935	 
	December 17, 2014
	 	 	5.4612457915	 
	June 17, 2015
	 	 	5.5303406054	 
	December 17, 2015
	 	 	5.2539617272	 
	June 17, 2016
	 	 	4.9775828489	 
	December 17, 2016
	 	 	4.7012040462	 
	June 17, 2017
	 	 	4.4248252435	 
	December 17, 2017
	 	 	4.1484463652	 
	June 17, 2018
	 	 	3.8720674870	 
	December 17, 2018
	 	 	3.5956887597	 
	June 17, 2019
	 	 	3.3193098060	 
	December 17, 2019
	 	 	11.5553992602	 

Series B Equipment Notes

Boeing 737-832

N388DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.03439089	%
	December 17, 2011
	 	 	3.56759207	 
	June 17, 2012
	 	 	3.48620230	 
	December 17, 2012
	 	 	3.40481215	 
	June 17, 2013
	 	 	3.32342238	 
	December 17, 2013
	 	 	3.24203223	 
	June 17, 2014
	 	 	3.16064246	 
	December 17, 2014
	 	 	3.07925232	 
	June 17, 2015
	 	 	4.21871137	 
	December 17, 2015
	 	 	4.05593183	 
	June 17, 2016
	 	 	3.89315191	 
	December 17, 2016
	 	 	44.53385810	 

Note Purchase Agreement

2009-1 EETC

Sch. III-10

 

Series A Equipment Notes

Boeing 737-832

N390DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8124365850	%
	December 17, 2011
	 	 	6.7188380200	 
	June 17, 2012
	 	 	6.5012913466	 
	December 17, 2012
	 	 	6.2904386868	 
	June 17, 2013
	 	 	6.0795859545	 
	December 17, 2013
	 	 	5.8687332947	 
	June 17, 2014
	 	 	5.6578806349	 
	December 17, 2014
	 	 	5.4470279026	 
	June 17, 2015
	 	 	5.0874969561	 
	December 17, 2015
	 	 	5.2740205827	 
	June 17, 2016
	 	 	5.0036966227	 
	December 17, 2016
	 	 	4.7333725902	 
	June 17, 2017
	 	 	4.4630487027	 
	December 17, 2017
	 	 	4.1927246702	 
	June 17, 2018
	 	 	3.9224007102	 
	December 17, 2018
	 	 	3.6520768227	 
	June 17, 2019
	 	 	3.3817527903	 
	December 17, 2019
	 	 	11.9131771271	 

Series B Equipment Notes

Boeing 737-832

N390DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	19.98762611	%
	December 17, 2011
	 	 	3.52956741	 
	June 17, 2012
	 	 	3.44995304	 
	December 17, 2012
	 	 	3.37033867	 
	June 17, 2013
	 	 	3.29072465	 
	December 17, 2013
	 	 	3.21111028	 
	June 17, 2014
	 	 	3.13149591	 
	December 17, 2014
	 	 	3.05188154	 
	June 17, 2015
	 	 	3.70206510	 
	December 17, 2015
	 	 	4.04706012	 
	June 17, 2016
	 	 	3.88783209	 
	December 17, 2016
	 	 	45.34034507	 

Note Purchase Agreement

2009-1 EETC

Sch. III-11

 

Series A Equipment Notes

Boeing 737-832

N392DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8098983453	%
	December 17, 2011
	 	 	6.7176801959	 
	June 17, 2012
	 	 	6.5015660755	 
	December 17, 2012
	 	 	6.2907044594	 
	June 17, 2013
	 	 	6.0798428434	 
	December 17, 2013
	 	 	5.8689813015	 
	June 17, 2014
	 	 	5.6581196854	 
	December 17, 2014
	 	 	5.4472580693	 
	June 17, 2015
	 	 	5.0877119537	 
	December 17, 2015
	 	 	5.2742434518	 
	June 17, 2016
	 	 	5.0039080656	 
	December 17, 2016
	 	 	4.7335726052	 
	June 17, 2017
	 	 	4.4632372932	 
	December 17, 2017
	 	 	4.1929018328	 
	June 17, 2018
	 	 	3.9225664465	 
	December 17, 2018
	 	 	3.6522311345	 
	June 17, 2019
	 	 	3.3818956741	 
	December 17, 2019
	 	 	11.9136805669	 

Series B Equipment Notes

Boeing 737-832

N392DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	19.99577786	%
	December 17, 2011
	 	 	3.52920757	 
	June 17, 2012
	 	 	3.44960160	 
	December 17, 2012
	 	 	3.36999563	 
	June 17, 2013
	 	 	3.29038929	 
	December 17, 2013
	 	 	3.21078296	 
	June 17, 2014
	 	 	3.13117698	 
	December 17, 2014
	 	 	3.05157065	 
	June 17, 2015
	 	 	3.70168791	 
	December 17, 2015
	 	 	4.04664785	 
	June 17, 2016
	 	 	3.88743591	 
	December 17, 2016
	 	 	45.33572578	 

Note Purchase Agreement

2009-1 EETC

Sch. III-12

 

Series A Equipment Notes

Boeing 737-832

N394DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8142857143	%
	December 17, 2011
	 	 	6.7151428571	 
	June 17, 2012
	 	 	6.5014285714	 
	December 17, 2012
	 	 	6.2905714286	 
	June 17, 2013
	 	 	6.0797142857	 
	December 17, 2013
	 	 	5.8688571429	 
	June 17, 2014
	 	 	5.6580000000	 
	December 17, 2014
	 	 	5.4471428571	 
	June 17, 2015
	 	 	5.0876044286	 
	December 17, 2015
	 	 	5.2741318571	 
	June 17, 2016
	 	 	5.0038021429	 
	December 17, 2016
	 	 	4.7334725714	 
	June 17, 2017
	 	 	4.4631428571	 
	December 17, 2017
	 	 	4.1928131429	 
	June 17, 2018
	 	 	3.9224835714	 
	December 17, 2018
	 	 	3.6521538571	 
	June 17, 2019
	 	 	3.3818241429	 
	December 17, 2019
	 	 	11.9134285714	 

Series B Equipment Notes

Boeing 737-832

N394DA

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	19.98165919	%
	December 17, 2011
	 	 	3.52983065	 
	June 17, 2012
	 	 	3.45021038	 
	December 17, 2012
	 	 	3.37059011	 
	June 17, 2013
	 	 	3.29096985	 
	December 17, 2013
	 	 	3.21134993	 
	June 17, 2014
	 	 	3.13172931	 
	December 17, 2014
	 	 	3.05210905	 
	June 17, 2015
	 	 	3.70234116	 
	December 17, 2015
	 	 	4.04736220	 
	June 17, 2016
	 	 	3.88812167	 
	December 17, 2016
	 	 	45.34372651	 

Note Purchase Agreement

2009-1 EETC

Sch. III-13

 

Series A Equipment Notes

Boeing 757-232

N696DL

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.9609351789	%
	December 17, 2011
	 	 	6.8460438893	 
	June 17, 2012
	 	 	6.6203501495	 
	December 17, 2012
	 	 	6.3946564098	 
	June 17, 2013
	 	 	6.1689626700	 
	December 17, 2013
	 	 	5.9432689303	 
	June 17, 2014
	 	 	6.2441938844	 
	December 17, 2014
	 	 	5.9432689303	 
	June 17, 2015
	 	 	5.5005618790	 
	December 17, 2015
	 	 	5.2112109578	 
	June 17, 2016
	 	 	4.9218599402	 
	December 17, 2016
	 	 	4.6325090190	 
	June 17, 2017
	 	 	4.3431580978	 
	December 17, 2017
	 	 	4.0538070802	 
	June 17, 2018
	 	 	3.7644560625	 
	December 17, 2018
	 	 	3.4751051413	 
	June 17, 2019
	 	 	3.1504063856	 
	December 17, 2019
	 	 	10.8252453940	 

Series B Equipment Notes

Boeing 757-232

N696DL

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.10738210	%
	December 17, 2011
	 	 	3.65020502	 
	June 17, 2012
	 	 	3.56498627	 
	December 17, 2012
	 	 	3.47976705	 
	June 17, 2013
	 	 	3.39454877	 
	December 17, 2013
	 	 	3.30932955	 
	June 17, 2014
	 	 	3.77803314	 
	December 17, 2014
	 	 	3.66440814	 
	June 17, 2015
	 	 	4.24673674	 
	December 17, 2015
	 	 	4.07629877	 
	June 17, 2016
	 	 	3.90586127	 
	December 17, 2016
	 	 	42.82244318	 

Note Purchase Agreement

2009-1 EETC

Sch. III-14

 

Series A Equipment Notes

Boeing 757-232

N698DL

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.9162321345	%
	December 17, 2011
	 	 	6.7990223495	 
	June 17, 2012
	 	 	6.5785133815	 
	December 17, 2012
	 	 	6.3580046953	 
	June 17, 2013
	 	 	6.1374957273	 
	December 17, 2013
	 	 	5.9169869471	 
	June 17, 2014
	 	 	5.6964781670	 
	December 17, 2014
	 	 	5.9537384731	 
	June 17, 2015
	 	 	5.5155477510	 
	December 17, 2015
	 	 	5.2328442107	 
	June 17, 2016
	 	 	4.9501405766	 
	December 17, 2016
	 	 	4.6674368485	 
	June 17, 2017
	 	 	4.3847333083	 
	December 17, 2017
	 	 	4.1020296741	 
	June 17, 2018
	 	 	3.8193260400	 
	December 17, 2018
	 	 	3.5366224059	 
	June 17, 2019
	 	 	3.2539187717	 
	December 17, 2019
	 	 	11.1809285379	 

Series B Equipment Notes

Boeing 757-232

N698DL

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.08966313	%
	December 17, 2011
	 	 	3.60706406	 
	June 17, 2012
	 	 	3.52382396	 
	December 17, 2012
	 	 	3.44058387	 
	June 17, 2013
	 	 	3.35734378	 
	December 17, 2013
	 	 	3.27410415	 
	June 17, 2014
	 	 	3.19086406	 
	December 17, 2014
	 	 	3.63481060	 
	June 17, 2015
	 	 	4.23136313	 
	December 17, 2015
	 	 	4.06488341	 
	June 17, 2016
	 	 	3.89840369	 
	December 17, 2016
	 	 	43.68709217	 

Note Purchase Agreement

2009-1 EETC

Sch. III-15

 

Series A Equipment Notes

Boeing 757-232

N6700

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8605703327	%
	December 17, 2011
	 	 	6.7550430684	 
	June 17, 2012
	 	 	6.5394565619	 
	December 17, 2012
	 	 	6.3238700555	 
	June 17, 2013
	 	 	6.1082836414	 
	December 17, 2013
	 	 	5.8926971349	 
	June 17, 2014
	 	 	5.6771106285	 
	December 17, 2014
	 	 	5.4615241220	 
	June 17, 2015
	 	 	5.5306224584	 
	December 17, 2015
	 	 	5.2542294824	 
	June 17, 2016
	 	 	4.9778365065	 
	December 17, 2016
	 	 	4.7014436229	 
	June 17, 2017
	 	 	4.4250507394	 
	December 17, 2017
	 	 	4.1486577634	 
	June 17, 2018
	 	 	3.8722647874	 
	December 17, 2018
	 	 	3.5958719963	 
	June 17, 2019
	 	 	3.3194790203	 
	December 17, 2019
	 	 	11.5559880776	 

Series B Equipment Notes

Boeing 757-232

N6700

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.04798821	%
	December 17, 2011
	 	 	3.56698549	 
	June 17, 2012
	 	 	3.48560952	 
	December 17, 2012
	 	 	3.40423311	 
	June 17, 2013
	 	 	3.32285714	 
	December 17, 2013
	 	 	3.24148118	 
	June 17, 2014
	 	 	3.16010476	 
	December 17, 2014
	 	 	3.07872880	 
	June 17, 2015
	 	 	4.21799410	 
	December 17, 2015
	 	 	4.05524218	 
	June 17, 2016
	 	 	3.89248980	 
	December 17, 2016
	 	 	44.52628571	 

Note Purchase Agreement

2009-1 EETC

Sch. III-16

 

Series A Equipment Notes

Boeing 757-232

N6702

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8680469156	%
	December 17, 2011
	 	 	6.7545065961	 
	June 17, 2012
	 	 	6.5389371981	 
	December 17, 2012
	 	 	6.3233678001	 
	June 17, 2013
	 	 	6.1077984950	 
	December 17, 2013
	 	 	5.8922290970	 
	June 17, 2014
	 	 	5.6766597919	 
	December 17, 2014
	 	 	5.4610903939	 
	June 17, 2015
	 	 	5.5301832033	 
	December 17, 2015
	 	 	5.2538121516	 
	June 17, 2016
	 	 	4.9774411929	 
	December 17, 2016
	 	 	4.7010702341	 
	June 17, 2017
	 	 	4.4246992754	 
	December 17, 2017
	 	 	4.1483283166	 
	June 17, 2018
	 	 	3.8719572650	 
	December 17, 2018
	 	 	3.5955863991	 
	June 17, 2019
	 	 	3.3192153475	 
	December 17, 2019
	 	 	11.5550703270	 

Series B Equipment Notes

Boeing 757-232

N6702

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.03290971	%
	December 17, 2011
	 	 	3.56765846	 
	June 17, 2012
	 	 	3.48626676	 
	December 17, 2012
	 	 	3.40487506	 
	June 17, 2013
	 	 	3.32348381	 
	December 17, 2013
	 	 	3.24209257	 
	June 17, 2014
	 	 	3.16070087	 
	December 17, 2014
	 	 	3.07930917	 
	June 17, 2015
	 	 	4.21878979	 
	December 17, 2015
	 	 	4.05600684	 
	June 17, 2016
	 	 	3.89322389	 
	December 17, 2016
	 	 	44.53468308	 

Note Purchase Agreement

2009-1 EETC

Sch. III-17

 

Series A Equipment Notes

Boeing 757-232

N6704Z

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8163651558	%
	December 17, 2011
	 	 	6.7123410846	 
	June 17, 2012
	 	 	6.5014822418	 
	December 17, 2012
	 	 	6.2906233990	 
	June 17, 2013
	 	 	6.0797644654	 
	December 17, 2013
	 	 	5.8689056227	 
	June 17, 2014
	 	 	5.6580467799	 
	December 17, 2014
	 	 	5.4471878463	 
	June 17, 2015
	 	 	5.0876463802	 
	December 17, 2015
	 	 	5.2741754019	 
	June 17, 2016
	 	 	5.0038434917	 
	December 17, 2016
	 	 	4.7335116723	 
	June 17, 2017
	 	 	4.4631796712	 
	December 17, 2017
	 	 	4.1928478518	 
	June 17, 2018
	 	 	3.9225158507	 
	December 17, 2018
	 	 	3.6521840312	 
	June 17, 2019
	 	 	3.3818521210	 
	December 17, 2019
	 	 	11.9135269325	 

Series B Equipment Notes

Boeing 757-232

N6704Z

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	19.99203745	%
	December 17, 2011
	 	 	3.52937272	 
	June 17, 2012
	 	 	3.44976282	 
	December 17, 2012
	 	 	3.37015292	 
	June 17, 2013
	 	 	3.29054347	 
	December 17, 2013
	 	 	3.21093313	 
	June 17, 2014
	 	 	3.13132323	 
	December 17, 2014
	 	 	3.05171333	 
	June 17, 2015
	 	 	3.70186090	 
	December 17, 2015
	 	 	4.04683727	 
	June 17, 2016
	 	 	3.88761748	 
	December 17, 2016
	 	 	45.33784530	 

Note Purchase Agreement

2009-1 EETC

Sch. III-18

 

Series A Equipment Notes

Boeing 757-232

N6706Q

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8142866739	%
	December 17, 2011
	 	 	6.7124892883	 
	June 17, 2012
	 	 	6.5016257262	 
	December 17, 2012
	 	 	6.2907621641	 
	June 17, 2013
	 	 	6.0798986928	 
	December 17, 2013
	 	 	5.8690351307	 
	June 17, 2014
	 	 	5.6581715686	 
	December 17, 2014
	 	 	5.4473080065	 
	June 17, 2015
	 	 	5.0877587146	 
	December 17, 2015
	 	 	5.2742918482	 
	June 17, 2016
	 	 	5.0039538853	 
	December 17, 2016
	 	 	4.7336161038	 
	June 17, 2017
	 	 	4.4632782317	 
	December 17, 2017
	 	 	4.1929402687	 
	June 17, 2018
	 	 	3.9226024873	 
	December 17, 2018
	 	 	3.6522646151	 
	June 17, 2019
	 	 	3.3819267429	 
	December 17, 2019
	 	 	11.9137898511	 

Series B Equipment Notes

Boeing 757-232

N6706Q

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	19.97507576	%
	December 17, 2011
	 	 	3.53012121	 
	June 17, 2012
	 	 	3.45049421	 
	December 17, 2012
	 	 	3.37086720	 
	June 17, 2013
	 	 	3.29124064	 
	December 17, 2013
	 	 	3.21161408	 
	June 17, 2014
	 	 	3.13198708	 
	December 17, 2014
	 	 	3.05236007	 
	June 17, 2015
	 	 	3.70264572	 
	December 17, 2015
	 	 	4.04769519	 
	June 17, 2016
	 	 	3.88844162	 
	December 17, 2016
	 	 	45.34745722	 

Note Purchase Agreement

2009-1 EETC

Sch. III-19

 

Series A Equipment Notes

Boeing 757-232

N6708D

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8172364859	%
	December 17, 2011
	 	 	6.7122789780	 
	June 17, 2012
	 	 	6.5014221425	 
	December 17, 2012
	 	 	6.2905652174	 
	June 17, 2013
	 	 	6.0797082026	 
	December 17, 2013
	 	 	5.8688512775	 
	June 17, 2014
	 	 	5.6579944420	 
	December 17, 2014
	 	 	5.4471374272	 
	June 17, 2015
	 	 	5.0875993725	 
	December 17, 2015
	 	 	5.2741265800	 
	June 17, 2016
	 	 	5.0037972210	 
	December 17, 2016
	 	 	4.7334678619	 
	June 17, 2017
	 	 	4.4631384133	 
	December 17, 2017
	 	 	4.1928089646	 
	June 17, 2018
	 	 	3.9224796952	 
	December 17, 2018
	 	 	3.6521501569	 
	June 17, 2019
	 	 	3.3818207978	 
	December 17, 2019
	 	 	11.9134167638	 

Series B Equipment Notes

Boeing 757-232

N6708D

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.00170436	%
	December 17, 2011
	 	 	3.52894633	 
	June 17, 2012
	 	 	3.44934624	 
	December 17, 2012
	 	 	3.36974571	 
	June 17, 2013
	 	 	3.29014562	 
	December 17, 2013
	 	 	3.21054509	 
	June 17, 2014
	 	 	3.13094501	 
	December 17, 2014
	 	 	3.05134448	 
	June 17, 2015
	 	 	3.70141355	 
	December 17, 2015
	 	 	4.04634844	 
	June 17, 2016
	 	 	3.88714782	 
	December 17, 2016
	 	 	45.33236736	 

Note Purchase Agreement

2009-1 EETC

Sch. III-20

 

Series A Equipment Notes

Boeing 757-232

N6710E

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.8180853022	%
	December 17, 2011
	 	 	6.7122185647	 
	June 17, 2012
	 	 	6.5013635077	 
	December 17, 2012
	 	 	6.2905084506	 
	June 17, 2013
	 	 	6.0796534820	 
	December 17, 2013
	 	 	5.8687984249	 
	June 17, 2014
	 	 	5.6579433678	 
	December 17, 2014
	 	 	5.4470883108	 
	June 17, 2015
	 	 	5.0875534908	 
	December 17, 2015
	 	 	5.2740791080	 
	June 17, 2016
	 	 	5.0037521458	 
	December 17, 2016
	 	 	4.7334251836	 
	June 17, 2017
	 	 	4.4630981329	 
	December 17, 2017
	 	 	4.1927712592	 
	June 17, 2018
	 	 	3.9224442970	 
	December 17, 2018
	 	 	3.6521172463	 
	June 17, 2019
	 	 	3.3817903725	 
	December 17, 2019
	 	 	11.9133093532	 

Series B Equipment Notes

Boeing 757-232

N6710E

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	19.97637185	%
	December 17, 2011
	 	 	3.53006386	 
	June 17, 2012
	 	 	3.45043831	 
	December 17, 2012
	 	 	3.37081321	 
	June 17, 2013
	 	 	3.29118723	 
	December 17, 2013
	 	 	3.21156169	 
	June 17, 2014
	 	 	3.13193658	 
	December 17, 2014
	 	 	3.05231060	 
	June 17, 2015
	 	 	3.70258601	 
	December 17, 2015
	 	 	4.04762945	 
	June 17, 2016
	 	 	3.88837880	 
	December 17, 2016
	 	 	45.34672242	 

Note Purchase Agreement

2009-1 EETC

Sch. III-21

 

Series A Equipment Notes

Boeing 757-232

N6712B

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.7699090909	%
	December 17, 2011
	 	 	6.6717655456	 
	June 17, 2012
	 	 	6.4654223156	 
	December 17, 2012
	 	 	6.2590789981	 
	June 17, 2013
	 	 	6.0527357681	 
	December 17, 2013
	 	 	5.8463925381	 
	June 17, 2014
	 	 	5.6400492205	 
	December 17, 2014
	 	 	5.4337059905	 
	June 17, 2015
	 	 	5.0778961289	 
	December 17, 2015
	 	 	4.8794890524	 
	June 17, 2016
	 	 	5.0289557716	 
	December 17, 2016
	 	 	4.7644130321	 
	June 17, 2017
	 	 	4.4998704677	 
	December 17, 2017
	 	 	4.2353278157	 
	June 17, 2018
	 	 	3.9707850762	 
	December 17, 2018
	 	 	3.7062425118	 
	June 17, 2019
	 	 	3.4416998599	 
	December 17, 2019
	 	 	12.2562608163	 

Series B Equipment Notes

Boeing 757-232

N6712B

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	19.94119475	%
	December 17, 2011
	 	 	3.49323904	 
	June 17, 2012
	 	 	3.41532287	 
	December 17, 2012
	 	 	3.33740671	 
	June 17, 2013
	 	 	3.25949097	 
	December 17, 2013
	 	 	3.18157438	 
	June 17, 2014
	 	 	3.10365864	 
	December 17, 2014
	 	 	3.02574248	 
	June 17, 2015
	 	 	3.68153611	 
	December 17, 2015
	 	 	3.56466208	 
	June 17, 2016
	 	 	3.88281943	 
	December 17, 2016
	 	 	46.11335254	 

Note Purchase Agreement

2009-1 EETC

Sch. III-22

 

Series A Equipment Notes

Boeing 767-332ER

N1602

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.9617865847	%
	December 17, 2011
	 	 	6.8459819366	 
	June 17, 2012
	 	 	6.6202902244	 
	December 17, 2012
	 	 	6.3945985122	 
	June 17, 2013
	 	 	6.1689068000	 
	December 17, 2013
	 	 	5.9432150878	 
	June 17, 2014
	 	 	6.2441373708	 
	December 17, 2014
	 	 	5.9432150878	 
	June 17, 2015
	 	 	5.5005121139	 
	December 17, 2015
	 	 	5.2111637650	 
	June 17, 2016
	 	 	4.9218154160	 
	December 17, 2016
	 	 	4.6324670670	 
	June 17, 2017
	 	 	4.3431187180	 
	December 17, 2017
	 	 	4.0537703691	 
	June 17, 2018
	 	 	3.7644220201	 
	December 17, 2018
	 	 	3.4750736711	 
	June 17, 2019
	 	 	3.1503779022	 
	December 17, 2019
	 	 	10.8251473530	 

Series B Equipment Notes

Boeing 767-332ER

N1602

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.11280033	%
	December 17, 2011
	 	 	3.64995739	 
	June 17, 2012
	 	 	3.56474438	 
	December 17, 2012
	 	 	3.47953136	 
	June 17, 2013
	 	 	3.39431835	 
	December 17, 2013
	 	 	3.30910534	 
	June 17, 2014
	 	 	3.77777691	 
	December 17, 2014
	 	 	3.66415956	 
	June 17, 2015
	 	 	4.24644848	 
	December 17, 2015
	 	 	4.07602245	 
	June 17, 2016
	 	 	3.90559643	 
	December 17, 2016
	 	 	42.81953903	 

Note Purchase Agreement

2009-1 EETC

Sch. III-23

 

Series A Equipment Notes

Boeing 767-332ER

N1604R

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.9092351634	%
	December 17, 2011
	 	 	6.7995279276	 
	June 17, 2012
	 	 	6.5790026976	 
	December 17, 2012
	 	 	6.3584774675	 
	June 17, 2013
	 	 	6.1379522374	 
	December 17, 2013
	 	 	5.9174270073	 
	June 17, 2014
	 	 	5.6969017772	 
	December 17, 2014
	 	 	5.9541812123	 
	June 17, 2015
	 	 	5.5159579987	 
	December 17, 2015
	 	 	5.2332333447	 
	June 17, 2016
	 	 	4.9505086908	 
	December 17, 2016
	 	 	4.6677840368	 
	June 17, 2017
	 	 	4.3850593829	 
	December 17, 2017
	 	 	4.1023347289	 
	June 17, 2018
	 	 	3.8196100749	 
	December 17, 2018
	 	 	3.5368854210	 
	June 17, 2019
	 	 	3.2541607670	 
	December 17, 2019
	 	 	11.1817600640	 

Series B Equipment Notes

Boeing 767-332ER

N1604R

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.07473374	%
	December 17, 2011
	 	 	3.60773771	 
	June 17, 2012
	 	 	3.52448223	 
	December 17, 2012
	 	 	3.44122674	 
	June 17, 2013
	 	 	3.35797126	 
	December 17, 2013
	 	 	3.27471577	 
	June 17, 2014
	 	 	3.19146028	 
	December 17, 2014
	 	 	3.63548954	 
	June 17, 2015
	 	 	4.23215386	 
	December 17, 2015
	 	 	4.06564288	 
	June 17, 2016
	 	 	3.89913191	 
	December 17, 2016
	 	 	43.69525407	 

Note Purchase Agreement

2009-1 EETC

Sch. III-24

 

Series A Equipment Notes

Boeing 767-332ER

N16065

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	5.9100590070	%
	December 17, 2011
	 	 	6.7994683921	 
	June 17, 2012
	 	 	6.5789450929	 
	December 17, 2012
	 	 	6.3584217937	 
	June 17, 2013
	 	 	6.1378984945	 
	December 17, 2013
	 	 	5.9173751953	 
	June 17, 2014
	 	 	5.6968518961	 
	December 17, 2014
	 	 	5.9541290785	 
	June 17, 2015
	 	 	5.5159097018	 
	December 17, 2015
	 	 	5.2331875234	 
	June 17, 2016
	 	 	4.9504653449	 
	December 17, 2016
	 	 	4.6677431665	 
	June 17, 2017
	 	 	4.3850209880	 
	December 17, 2017
	 	 	4.1022988095	 
	June 17, 2018
	 	 	3.8195766311	 
	December 17, 2018
	 	 	3.5368544526	 
	June 17, 2019
	 	 	3.2541322741	 
	December 17, 2019
	 	 	11.1816621583	 

Series B Equipment Notes

Boeing 767-332ER

N16065

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2011
	 	 	20.05832034	%
	December 17, 2011
	 	 	3.60847860	 
	June 17, 2012
	 	 	3.52520601	 
	December 17, 2012
	 	 	3.44193343	 
	June 17, 2013
	 	 	3.35866085	 
	December 17, 2013
	 	 	3.27538826	 
	June 17, 2014
	 	 	3.19211568	 
	December 17, 2014
	 	 	3.63623612	 
	June 17, 2015
	 	 	4.23302297	 
	December 17, 2015
	 	 	4.06647780	 
	June 17, 2016
	 	 	3.89993264	 
	December 17, 2016
	 	 	43.70422730	 

Note Purchase Agreement

2009-1 EETC

Sch. III-25

 

Series A Equipment Notes

Boeing 777-200LR

N705DN

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	3.3140668052	%
	December 17, 2010
	 	 	1.4951433050	 
	June 17, 2011
	 	 	2.3626955744	 
	December 17, 2011
	 	 	4.7253911615	 
	June 17, 2012
	 	 	4.6201773749	 
	December 17, 2012
	 	 	4.5149635883	 
	June 17, 2013
	 	 	4.4097497891	 
	December 17, 2013
	 	 	4.3045360151	 
	June 17, 2014
	 	 	4.1993222159	 
	December 17, 2014
	 	 	4.0941084419	 
	June 17, 2015
	 	 	3.9888946427	 
	December 17, 2015
	 	 	3.8836808562	 
	June 17, 2016
	 	 	4.0701123072	 
	December 17, 2016
	 	 	3.9538233931	 
	June 17, 2017
	 	 	3.8375344539	 
	December 17, 2017
	 	 	3.7212455398	 
	June 17, 2018
	 	 	3.6049566257	 
	December 17, 2018
	 	 	3.4886676865	 
	June 17, 2019
	 	 	3.3723787724	 
	December 17, 2019
	 	 	28.0385514511	 

Series B Equipment Notes

Boeing 777-200LR

N705DN

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	9.72948081	%
	December 17, 2010
	 	 	9.47544342	 
	June 17, 2011
	 	 	21.15054337	 
	December 17, 2011
	 	 	24.42887766	 
	June 17, 2012
	 	 	0.57106463	 
	December 17, 2012
	 	 	0.57106469	 
	June 17, 2013
	 	 	0.57106469	 
	December 17, 2013
	 	 	0.57106469	 
	June 17, 2014
	 	 	0.57106463	 
	December 17, 2014
	 	 	0.57106469	 
	June 17, 2015
	 	 	0.57106469	 
	December 17, 2015
	 	 	0.57106463	 
	June 17, 2016
	 	 	0.57106469	 
	December 17, 2016
	 	 	30.07607271	 

Note Purchase Agreement

2009-1 EETC

Sch. III-26

 

Series A Equipment Notes

Boeing 777-200LR

N706DN

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	3.3136407464	%
	December 17, 2010
	 	 	1.4951498936	 
	June 17, 2011
	 	 	2.3627059920	 
	December 17, 2011
	 	 	4.7254119839	 
	June 17, 2012
	 	 	4.6201977261	 
	December 17, 2012
	 	 	4.5149834809	 
	June 17, 2013
	 	 	4.4097692356	 
	December 17, 2013
	 	 	4.3045549778	 
	June 17, 2014
	 	 	4.1993407199	 
	December 17, 2014
	 	 	4.0941264747	 
	June 17, 2015
	 	 	3.9889122295	 
	December 17, 2015
	 	 	3.8836979716	 
	June 17, 2016
	 	 	4.0701302394	 
	December 17, 2016
	 	 	3.9538408144	 
	June 17, 2017
	 	 	3.8375513768	 
	December 17, 2017
	 	 	3.7212619266	 
	June 17, 2018
	 	 	3.6049725017	 
	December 17, 2018
	 	 	3.4886830641	 
	June 17, 2019
	 	 	3.3723936391	 
	December 17, 2019
	 	 	28.0386750060	 

Series B Equipment Notes

Boeing 777-200LR

N706DN

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	9.73135611	%
	December 17, 2010
	 	 	9.47524658	 
	June 17, 2011
	 	 	21.15010405	 
	December 17, 2011
	 	 	24.42837007	 
	June 17, 2012
	 	 	0.57105286	 
	December 17, 2012
	 	 	0.57105280	 
	June 17, 2013
	 	 	0.57105280	 
	December 17, 2013
	 	 	0.57105280	 
	June 17, 2014
	 	 	0.57105280	 
	December 17, 2014
	 	 	0.57105280	 
	June 17, 2015
	 	 	0.57105280	 
	December 17, 2015
	 	 	0.57105280	 
	June 17, 2016
	 	 	0.57105280	 
	December 17, 2016
	 	 	30.07544792	 

Note Purchase Agreement

2009-1 EETC

Sch. III-27

 

Series A Equipment Notes

Boeing 777-200LR

N707DN

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	3.3137626749	%
	December 17, 2010
	 	 	1.4951479928	 
	June 17, 2011
	 	 	2.3627030193	 
	December 17, 2011
	 	 	4.7254060134	 
	June 17, 2012
	 	 	4.6201919158	 
	December 17, 2012
	 	 	4.5149777803	 
	June 17, 2013
	 	 	4.4097636700	 
	December 17, 2013
	 	 	4.3045495472	 
	June 17, 2014
	 	 	4.1993354369	 
	December 17, 2014
	 	 	4.0941213140	 
	June 17, 2015
	 	 	3.9889071912	 
	December 17, 2015
	 	 	3.8836930809	 
	June 17, 2016
	 	 	4.0701251055	 
	December 17, 2016
	 	 	3.9538358211	 
	June 17, 2017
	 	 	3.8375465367	 
	December 17, 2017
	 	 	3.7212572523	 
	June 17, 2018
	 	 	3.6049679553	 
	December 17, 2018
	 	 	3.4886786583	 
	June 17, 2019
	 	 	3.3723893864	 
	December 17, 2019
	 	 	28.0386396478	 

Series B Equipment Notes

Boeing 777-200LR

N707DN

	 	 	 	 	 
	 	 	Percentage of Original	 
	 	 	Principal Amount to be	 
	Payment Date	 	Paid	 
	June 17, 2010
	 	 	9.73364992	%
	December 17, 2010
	 	 	9.47500583	 
	June 17, 2011
	 	 	21.14956656	 
	December 17, 2011
	 	 	24.42774939	 
	June 17, 2012
	 	 	0.57103828	 
	December 17, 2012
	 	 	0.57103828	 
	June 17, 2013
	 	 	0.57103833	 
	December 17, 2013
	 	 	0.57103828	 
	June 17, 2014
	 	 	0.57103828	 
	December 17, 2014
	 	 	0.57103833	 
	June 17, 2015
	 	 	0.57103828	 
	December 17, 2015
	 	 	0.57103833	 
	June 17, 2016
	 	 	0.57103828	 
	December 17, 2016
	 	 	30.07468364	 

Note Purchase Agreement

2009-1 EETC

Sch. III-28

 

Indenture for Each Aircraft

 Debt Rate (as such term is defined in clause (i) of the definition of “Debt Rate” in the form of
Indenture and Security Agreement included as Exhibit C of the Note Purchase Agreement (as such form
may be amended, supplemented or otherwise modified from time to time in accordance with terms of
the Note Purchase Agreement, the “Indenture Form”)) (x) for Series A (computed on
the basis of a 360-day year consisting of twelve 30-day months, payable semi-annually in arrears):
7.75% and (y) for Series B (computed on the basis of a 360-day year consisting of twelve
30-day months, payable semi-annually in arrears): 9.75%.

	 	 	 
	Past Due Rate:

	 	The lesser of (a) with
respect to (i) any payment
made to a Noteholder (as such term is defined in
the Indenture Form) under any Series of Equipment
Notes relating to such Aircraft, the Debt Rate
then applicable to such Series plus 1% and (ii)
any other payment made under any Operative
Document (as such term is defined in the
Indenture Form) to any other Person, the Debt
Rate (as such term is defined in clause (ii) of
the definition of “Debt Rate” in the Indenture
Form) plus 1% (computed on the basis of a year of
360 days comprised of twelve 30-day months) and
(b) the maximum rate permitted by applicable law.
	 
	 	 
	Payment Dates:

	 	June 17 and December 17 commencing with (a) in
the case of each Indenture with respect to a 2009
Aircraft, June 17, 2010 and (b) in the case of
each Indenture with respect to a 2000-1 Aircraft,
the first such date to occur after the issuance
of the Equipment Notes with respect to such
2000-1 Aircraft.
	 
	 	 
	Make-Whole Amount:

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

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

	 	Not less than 110% of the unpaid principal amount
of the Equipment Notes relating to such Aircraft,
subject to the Company’s right to self-insure on
terms no more favorable to the Company in any
material respect than those set forth in Section
7.06 of the Indenture Form.

Participation Agreement for Each Aircraft

The applicable Loan Trustee, the Subordination Agent, the Liquidity Providers, the Pass Through
Trustees and the Escrow Agent shall be indemnified against Claims (as such term is defined in the
Participation Agreement Form referred to below) to the extent set forth in Section 4.02 of
the form of the Participation Agreement included as Exhibit B to the Note Purchase

Note Purchase Agreement

2009-1 EETC

Sch. III-29

 

Agreement (as such form may be amended, supplemented or otherwise modified from time to time in accordance with
terms of the Note Purchase Agreement, the “Participation Agreement Form”).

Prohibited Modifications

	1.	 	The parties may not modify in any material adverse respect the Granting Clause of the
Indenture Form so as to deprive the Noteholders or the Related Noteholders (as defined in the
Indenture Form) of a first priority security interest in and mortgage lien on the Aircraft (as
defined in the Indenture Form) or, to the extent assigned thereunder, the Warranty Rights (as
defined in the Indenture Form) 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
Noteholders, the Subordination Agent, the Liquidity Providers or the Loan Trustee (as defined
in the Indenture Form) the provisions of Article II or Article III, or
Sections 7.05(a) or 7.05(b) (insofar as such Sections relate to conditions to
“Airframe” and “Engine” replacements), or Sections 4.01, 4.02, 5.02, 9.02, 10.04,
10.11, 10.12 or 10.15 of the Indenture Form or the provisions of the
proviso to the second full sentence of Section 7.02(e) of the Indenture Form as
regards the rights of the Loan Trustee (as defined in the Indenture Form) thereunder or the
definition of “Make-Whole Amount” in Annex A to the Indenture Form.
	 
	2.	 	The parties may not modify in any material adverse respect as regards the interests of the
Noteholders, the Subordination Agent, the Liquidity Providers or the Loan Trustee (as defined
in the Participation Agreement Form) the provisions of Sections 3.01(d),
3.01(f)(i), 3.01(r), 4.01(g), 4.01(h), 6.01(e),
6.01(f), 6.02(b), 6.02(c), 6.02(f), 7.03, 7.08
or 7.12 of the Participation Agreement Form, or the first sentence of Section
6.02(c) of the Participation Agreement Form, or the provisions of Sections
3.01(g), (h) or (i) of the Participation Agreement Form so as to eliminate
the requirement to deliver to the Noteholders or the Loan Trustee (as defined in the
Participation Agreement Form), 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
otherwise modify the terms of the Participation Agreement Form to deprive the Pass Through
Trustees, the Subordination Agent, the Liquidity Providers or the Loan Trustee (as defined in
the Participation Agreement Form) of any indemnity, or right of reimbursement, for Claims in
its favor.
	 
	3.	 	Nothing in the two immediately preceding paragraphs shall prohibit any modification of the
Indenture Form or the Participation Agreement Form to give effect to (a) the
redemption of any Series B Equipment Notes (or any Additional Series Equipment Notes) and
issuance of new Equipment Notes with the same series designation as that of the redeemed
Equipment Notes or (b) the issuance of any Additional Series Equipment Notes or the
issuance of pass through certificates by any pass through trust that acquires any such new
Equipment Notes or Additional Series Equipment Notes, as applicable, or to provide for any
credit support for any pass through certificates relating to any such new Equipment Notes or
Additional Series Equipment Notes, as applicable, in each case, as provided in Section
4(a)(v) of the Note Purchase Agreement.

Note Purchase Agreement

2009-1 EETC

Sch. III-30

 

ANNEX A to

NOTE PURCHASE AGREEMENT

DEFINITIONS

     (a) Certain Rules of Construction. Unless the context otherwise requires, the
following rules of construction shall apply for all purposes of the Note Purchase Agreement
(including this Annex A).

          (i) Singular and Plural. The definitions stated in this Annex A apply
equally to both the singular and the plural forms of the terms defined.

          (ii) References to Parts. All references in the Note Purchase Agreement
to designated “Sections”, “Subsections”, “Schedules”, “Exhibits”, “Annexes” and other
subdivisions are to the designated Section, Subsection, Schedule, Exhibit, Annex or
other subdivision of the Note Purchase Agreement, unless otherwise specifically
stated.

          (iii) Reference to the Whole. The words “herein”, “hereof” and
“hereunder” and other words of similar import refer to the Note Purchase Agreement as
a whole and not to any particular Section, Subsection, Schedule, Exhibit, Annex or
other subdivision.

          (iv) Reference to Government. All references in the Note Purchase
Agreement to a “government” are to such government and any instrumentality or agency
thereof.

          (v) Including Without Limitation. Unless the context otherwise
requires, whenever the words “including”, “include” or “includes” are used herein,
they shall be deemed to be followed by the phrase “without limitation”.

          (vi) Notice and Notify. Whenever the words “notice” or “notify” or
similar words are used herein, they mean the provision of formal notice as set forth
in Section 6 of the Note Purchase Agreement.

          (vii) Reference to Persons. All references in the Note Purchase
Agreement to a Person shall include successors and permitted assigns of such Person.

          (b) Definitions.

          “2000-1 Aircraft” has the meaning set forth in the second recital to the Note Purchase
Agreement.

          “2009 Aircraft” has the meaning set forth in the second recital to the Note Purchase
Agreement.

Annex A to

Note Purchase Agreement

2009-1 EETC

A-1

 

          “Additional Series Equipment Notes” means Equipment Notes of one (and not more than
one at any time) series issued under an Indenture and designated other than as “Series A” or
“Series B” issued thereunder, if any, in the principal amount and maturities and bearing interest
as specified in Schedule I to such Indenture amended at the time of original issuance of such
Additional Series Equipment Notes under the heading for such series.

          “Additional Series Pass Through Certificates” means the pass through certificates
issued pursuant to any Additional Series Pass Through Trust Agreement.

          “Additional Series Pass Through Trust” means a grantor trust created to facilitate the
issuance and sale of pass through certificates in connection with the issuance of any Additional
Series Equipment Notes.

          “Additional Series Pass Through Trust Agreement” means a Trust Supplement entered into
in connection with the creation of an Additional Series Pass Through Trust, together with the Basic
Pass Through Trust Agreement, as the same may be amended, supplemented or otherwise modified from
time to time in accordance with its terms.

          “Additional Series Pass Through Trustee” means, with respect to any Additional Series
Pass Through Trust, the trustee under the Additional Series Pass Through Trust Agreement for such
Additional Series Pass Through Trust, in its capacity as pass through trustee thereunder.

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

          “Bankruptcy Code” means the United States Bankruptcy Code, 11 United States Code §§101
et seq., as amended from time to time, or any successor statutes thereto.

          “Basic Pass Through Trust Agreement” means that certain Pass Through Trust Agreement,
dated as of November 16, 2000, between the Company and U.S. Bank (as successor in interest to State
Street Bank and Trust Company of Connecticut, National Association), as the same may be amended,
supplemented or otherwise modified from time to time in accordance with its terms (but does not
include any Trust Supplement).

          “Business Day” means any day other than a Saturday, a Sunday or a day on which
commercial banks are required or authorized to close in New York, New York, Atlanta, Georgia,
Boston, Massachusetts, Wilmington, Delaware or, if different from the foregoing, the city and state
in which any Loan Trustee, any Pass Through Trustee or the Subordination Agent maintains its
Corporate Trust Office or receives and disburses funds.

          “Certificated Air Carrier” means an air carrier holding an air carrier operating
certificate issued by the Secretary of Transportation pursuant to Chapter 447 of Title 49 of the
United States Code for aircraft capable of carrying ten or more individuals or 6,000 pounds or more
of cargo or that otherwise is certified or registered to the extent required to fall within the
purview of Section 1110.

Annex A to

Note Purchase Agreement

2009-1 EETC

A-2

 

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

          “Citizen of the United States” has the meaning specified for such term in Section
40102(a)(15) of Title 49 of the United States Code or any similar legislation of the United States
enacted in substitution or replacement therefor.

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

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

          “Class A Liquidity Facility” has the meaning set forth in the Intercreditor Agreement.

          “Class A Liquidity Provider” has the meaning set forth in the Intercreditor Agreement.

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

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

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

          “Class B Liquidity Facility” has the meaning set forth in the Intercreditor Agreement.

          “Class B Liquidity Provider” has the meaning set forth in the Intercreditor Agreement.

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

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

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

          “Corporate Trust Office” has the meaning set forth in Section 1.01 of the
Intercreditor Agreement.

          “Cut-Off Date” means the earlier of:

Annex A to

Note Purchase Agreement

2009-1 EETC

A-3

 

          (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 31, 2010; and

          (b) the date on which Equipment Notes issued with respect to all of the Aircraft have
been purchased by the Pass Through Trustees in accordance with the Note Purchase Agreement.

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

          “Deposit Agreements” has the meaning set forth in the fifth recital to the Note
Purchase Agreement, subject to Section 5(f) of the Note Purchase Agreement.

          “Depositary” means, subject to Section 5(f) of the Note Purchase Agreement,
The Bank of New York Mellon, a New York banking corporation.

          “Depositary Threshold Rating” has the meaning set forth in Section 5(a) of the
Note Purchase Agreement.

          “Equipment Notes” means and includes any equipment notes issued under any Indenture in
the form specified in Section 2.01 thereof (as such form may be varied pursuant to the
terms of the Note Purchase Agreement and of such Indenture) and any Equipment Note issued under any
such 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 fifth recital to
the Note Purchase Agreement.

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

          “FAA” means the United States Federal Aviation Administration and any agency or
instrumentality of the United States government succeeding to its functions.

Annex A to

Note Purchase Agreement

2009-1 EETC

A-4

 

          “Financing Agreements” means, collectively, with respect to any Aircraft, the
Participation Agreement, the Indenture and the Equipment Notes issued under such Indenture, in each
case relating to such Aircraft.

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

          “Funding Notice” has the meaning set forth in Section 1(b) 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.

          “holder”, with respect to any Certificate, means the Person in whose name such
Certificate is registered in the Register.

          “Indenture” means with respect to an Aircraft, an indenture and security agreement
substantially in the form of the Indenture Form to which such Aircraft shall have been subjected,
as such agreement may be amended, supplemented or otherwise modified from time to time.

          “Indenture Form” has the meaning set forth on Schedule III to the Note Purchase
Agreement.

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

          “Intercreditor Agreement” means that certain Intercreditor Agreement, dated as of the
Issuance Date, among the Pass Through Trustees, the Liquidity Providers and the Subordination
Agent, as the same may be amended, supplemented or otherwise modified from time to time in
accordance with its terms; provided that for purposes of any obligations of the Company, no
amendment, modification or supplement to, or substitution or replacement of, such Intercreditor
Agreement shall be effective unless consented to by the Company.

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

          “Liquidity Facilities” means, collectively, the Class A Liquidity Facility and the
Class B Liquidity Facility.

          “Liquidity Providers” means, collectively, the Class A Liquidity Provider and the
Class B Liquidity Provider.

Annex A to

Note Purchase Agreement

2009-1 EETC

A-5

 

          “Loan Trustee” means, with respect to any Aircraft, the “Loan Trustee” as defined in
the Financing Agreements in respect of such Aircraft.

          “Manufacturer” means The Boeing Company, a Delaware corporation, and its successors
and assigns.

          “Moody’s” means Moody’s Investors Service, Inc.

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

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

          “Operative Agreements” means, collectively, each Pass Through Trust Agreement, the
Note Purchase Agreement, each Escrow and Paying Agent Agreement, each Deposit Agreement, each
Liquidity Facility, the Intercreditor Agreement, the Certificates and, with respect to each
Aircraft in respect of which Equipment Notes shall have been issued, the Financing Agreements.

          “Participation Agreement” means with respect to an Aircraft, a participation agreement
substantially in the form of the Participation Agreement Form relating to the financing of such
Aircraft, as such agreement may be amended, supplemented or otherwise modified from time to time.

          “Participation Agreement Form” has the meaning set forth on Schedule III to the Note
Purchase Agreement.

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

          “Pass Through Trust Agreement” means each of the two separate Trust Supplements
referred to in the third recital to the Note Purchase Agreement, each dated as of the Issuance
Date, by and between the Company and the Pass Through Trustee, together in each case with the Basic
Pass Through Trust Agreement, as the same may be amended, supplemented or otherwise modified from
time to time in accordance with the terms thereof.

          “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.

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

Annex A to

Note Purchase Agreement

2009-1 EETC

A-6

 

          “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, with respect to any Class of Certificates, collectively, at
any time, each nationally recognized rating agency which shall have been requested to rate such
Class of Certificates and which shall then be rating such Class of Certificates. The initial
Rating Agencies with respect to the Class A Certificates and the Class B Certificates will be
Moody’s and Standard & Poor’s.

          “Rating Agency Confirmation” means, in the case of any action or event that, pursuant
to the express terms of the Note Purchase Agreement, requires a “Rating Agency Confirmation” with
respect to any Class of Certificates in connection therewith, a written confirmation from each of
the Rating Agencies then rating such Class of Certificates to the effect that such action or event
would not result in (i) a reduction of the rating for such Class of Certificates by such
Rating Agency below the then current rating for such Class of Certificates issued by such Rating
Agency (before the downgrading of such rating, if any, as a result of the downgrading of the
Depositary below the applicable Depositary Threshold Rating, if applicable) or (ii) a
withdrawal or suspension of the rating of such Class of Certificates by such Rating Agency.

          “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 issue a Rating Agency Confirmation with respect
to such Class of Certificates in connection with the replacement of the Depositary with the
Replacement Depositary party to such deposit agreement.

          “Replacement Depositary” has the meaning set forth in Section 5(a) of the Note
Purchase Agreement.

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

          “Section 1110” means Section 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 Equipment Notes issued under an Indenture and
designated as “Series A” thereunder.

          “Series B Equipment Notes” means Equipment Notes issued under an Indenture and
designated as “Series B” thereunder.

Annex A to

Note Purchase Agreement

2009-1 EETC

A-7

 

          “Short-Term Rating” means, for any entity, (a) in the case of Moody’s, the
short-term unsecured debt rating of such entity, and (b) in the case of Standard & Poor’s,
the short-term issuer credit rating of such entity.

          “Standard & Poor’s” means Standard & Poor’s Ratings Services, a Standard & Poor’s
Financial Services LLC business.

          “Subordination Agent” has the meaning set forth in the first paragraph 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.

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

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

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

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

          “United States” means the United States of America.

          “U.S. Bank” has the meaning set forth in the first paragraph of the Note Purchase
Agreement.

Annex A to

Note Purchase Agreement

2009-1 EETC

A-8

 

EXHIBIT A to

NOTE PURCHASE AGREEMENT

FORM OF FUNDING NOTICE

FUNDING NOTICE

Dated as of [                    ]

To each of the addressees listed

     in Schedule A hereto

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

Ladies and Gentlemen:

          Reference is made to the Note Purchase Agreement, dated as of November 24, 2009, among Delta
Air Lines, Inc. (the “Company”), U.S Bank Trust National Association, as Pass Through
Trustee under each of the Pass Through Trust Agreements (as defined therein) (the “Pass Through
Trustee”), U.S. Bank Trust National Association, as Subordination Agent (the “Subordination
Agent”), U.S. Bank National Association, as Escrow Agent (the “Escrow Agent”), and U.S.
Bank Trust National Association, 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 aircraft described in Schedule B hereto (the “Aircraft”),
of the following:

	(1)	 	The Funding Date of the Aircraft shall be [_______];
	 
	(2)	 	The Equipment Notes to be issued in respect of the Aircraft are described in Schedule C
hereto, and the aggregate amount of each series of Equipment Notes to be issued, and purchased
by the respective Pass Through Trustees referred to below, 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 $[_______]; and
	 
	 	(b)	 	the Class B Pass Through Trustee shall purchase Series B Equipment Notes in the
amount of $[_______].

Note Purchase Agreement

2009-1 EETC

 

 

          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 each Pass Through Trustee to (i) purchase Equipment Notes
of the related series and in an amount set forth opposite such Pass Through Trustee in clause (2)
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 Pass Through Trustee to (a) enter into the
Participation Agreement (N[___]) dated as of [_______] among the Company and U.S. Bank Trust
National Association, as Loan Trustee, Subordination Agent and each Pass Through Trustee,
substantially in the form previously provided, (b) perform its obligations thereunder and
(c) deliver such certificates, documents and legal opinions relating to such Pass Through
Trustee as are required thereby.

	 	 	 	 	 
	Yours faithfully,

Delta Air Lines, Inc.

 	 
	By:  	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

Note Purchase Agreement

2009-1 EETC

 

 

Schedule A to

Funding Notice

U.S. Bank Trust National Association, as

     Pass Through Trustee

300 Delaware Avenue, 9th Floor

Mail Code EX-DE-WDAW

Wilmington, Delaware 19801

Attention: Corporate Trust Services

Reference: Delta Air Lines 2009-1 EETC

Telephone: (302) 576-3703

Facsimile: (302) 576-3717

U.S. Bank Trust National Association, as

     Subordination Agent and Paying Agent

One Federal Street, 3rd Floor

Mail Code EX-MA-FED

Boston, Massachusetts 02110

Attention: Corporate Trust Services

Reference: Delta Air Lines 2009-1 EETC

Telephone: (617) 603-6553

Facsimile: (617) 603-6683

U.S. Bank National Association, as

     Escrow Agent

One Federal Street, 3rd Floor

Boston, Massachusetts 02110

Attention: Corporate Trust Services

Reference: Delta Air Lines 2009-1 EETC

Telephone: (617) 603-6553

Facsimile: (617) 603-6683

The Bank of New York Mellon, as

     Depositary

101 Barclay Street, Floor 8W

New York, New York 10286

Attention: Corporate Finance, Mary Miselis, Vice President

Reference: Delta Air Lines 2009-1 EETC

Telephone: (212) 815-4812

Facsimile: (212) 815-5704

Standard & Poor’s Ratings Services

55 Water Street, 35th Floor

New York, New York 10004

Attention: Betsy Snyder

Note Purchase Agreement

2009-1 EETC

 

 

Reference: Delta Air Lines 2009-1 EETC

Telephone: (212) 438-7811

Facsimile: (212) 438-7820

Moody’s Investors Service, Inc.

7 World Trade Center at 250 Greenwich Street

New York, New York 10007

Attention: Jonathan Root, Vice President — Senior Analyst

     Airlines, Municipal Solid Waste, Shipping Sectors

Reference: Delta Air Lines 2009-1 EETC

Telephone: (212) 553-1672

Facsimile: (212) 298-6481

Note Purchase Agreement

2009-1 EETC

 

 

Schedule B to

Funding Notice

Aircraft

     One Boeing [Model] aircraft bearing U.S. Registration Mark                      and manufacturer’s serial
number                      together with two [Engine Manufacturer and Model] engines bearing manufacturer’s serial
numbers                      and                     .

Note Purchase Agreement

2009-1 EETC

 

 

Schedule C to

Funding Notice

Equipment Notes

	 	 	 	 	 	 	 
	Relevant Pass	 	Series of Equipment	 	 	 	Original Principal
	Through Trustee	 	Notes	 	Equipment Note No.	 	Amount
	Class A Pass Through Trustee
	 	Series 2009-1A-N                    
	 	No. A-                    
	 	$                                        
	 	 	 	 	 	 	 
	Class B Pass Through Trustee
	 	Series 2009-1B-N                    
	 	No. B-                    
	 	$                                        

Note Purchase Agreement

2009-1 EETC

 

 

Annex A to

Funding Notice

WITHDRAWAL CERTIFICATE

(Class [A][B])

U.S. Bank National Association,

as Escrow Agent

One Federal Street, 3rd Floor

Boston, Massachusetts 02110

Attention: Corporate Trust Services

Reference: Delta Air Lines 2009-1 EETC

Telephone: (617) 603-6553

Facsimile: (617) 603-6683

Ladies and Gentlemen:

          Reference is made to the Escrow and Paying Agent Agreement (Class [A][B]), dated as of
November 24, 2009 (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 The Bank of New York Mellon, as Depositary, 101 Barclay Street, Floor 8W, New York,
New York 10286, attention: Corporate Finance, Mary Miselis, Vice President, Reference: Delta Air
Lines 2009-1 EETC, telephone: (212) 815-4812, facsimile: (212) 815-5704.

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

	 	 	 	 	 
	 	Very truly yours,

U.S. BANK TRUST NATIONAL ASSOCIATION,

not in its individual capacity but solely as Pass

Through Trustee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: As of [                                , 20          ]

Note Purchase Agreement

2009-1 EETC

 

 

Exhibit A to

Funding Notice

NOTICE OF PURCHASE WITHDRAWAL

The Bank of New York Mellon,

as Depositary

101 Barclay Street, Floor 8W

New York, New York 10286

Attention: Corporate Finance, Mary Miselis, Vice President

Reference: Delta Air Lines 2009-1A EETC

Telephone: (212) 815-4812

Telecopier: (212) 815-5704

Ladies and Gentlemen:

          Reference is made to the Deposit Agreement (Class A) dated as of November 24, 2009 (the
“Deposit Agreement”) between U.S. Bank 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 [Delta Air
Lines, Inc. at [_______]] [the Pass Through Trustee at [_______]]1 on [_______],
20___, upon the telephonic request of a representative of the Pass Through Trustee.

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

    as Escrow Agent

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: As of [                                , 20          ]

 

			
	1	 	If there are any excess amounts that would need to be
re-deposited pursuant to the applicable Funding Notice, the account to be
specified here should be that of the Pass Through Trustee. If there are no
such excess amounts, the account number to specified here should be that of
Delta.

Note Purchase Agreement

2009-1 EETC

 

 

Exhibit B to

Funding Notice

NOTICE OF PURCHASE WITHDRAWAL

The Bank of New York Mellon,

as Depositary

101 Barclay Street, Floor 8W

New York, New York 10286

Attention: Corporate Finance, Mary Miselis, Vice President

Reference: Delta Air Lines 2009-1B EETC

Telephone: (212) 815-4812

Telecopier: (212) 815-5704

Ladies and Gentlemen:

          Reference is made to the Deposit Agreement (Class B) dated as of November 24, 2009 (the
“Deposit Agreement”) between U.S. Bank 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 [Delta Air
Lines, Inc. at [______]] [the Pass Through Trustee at [______]]2 on [______],
20___, upon the telephonic request of a representative of the Pass Through Trustee.

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

    as Escrow Agent

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Dated: As of [                                , 20          ]

 

			
	2	 	If there are any excess amounts that would need to be
re-deposited pursuant to the applicable Funding Notice, the account to be
specified here should be that of the Pass Through Trustee. If there are no
such excess amounts, the account number to specified here should be that of
Delta.

Note Purchase Agreement

2009-1 EETC

 

 

EXHIBIT B to

NOTE PURCHASE AGREEMENT

FORM OF PARTICIPATION AGREEMENT

[Filed separately as Exhibit 4.14]

Note Purchase Agreement

2009-1 EETC

 

 

EXHIBIT C to

NOTE PURCHASE AGREEMENT

FORM OF INDENTURE

[Filed separately as Exhibit 4.15]

Note Purchase Agreement

2009-1 EETCexv4w14

Exhibit 4.14

EXHIBIT B to Note Purchase Agreement

 

PARTICIPATION AGREEMENT

([Reg. No.])

Dated as of __________, 20__1

among

DELTA AIR LINES, INC.,

U.S. BANK TRUST NATIONAL ASSOCIATION,

as Pass Through Trustee under each of the

Pass Through Trust Agreements,

U.S. BANK TRUST NATIONAL ASSOCIATION,

as Subordination Agent,

U.S. BANK TRUST NATIONAL ASSOCIATION,

as Loan Trustee,

and

U.S. BANK TRUST NATIONAL ASSOCIATION,

in its individual capacity as set forth herein

 * 

One Boeing [Model]

(Generic Manufacturer and Model [Generic Manufacturer and Model]) Aircraft

U.S. Registration No. [Reg. No.]

 

 

			
	1	 	To insert the relevant Closing Date.

Participation Agreement (2009-1 EETC)

[Reg. No.]

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 1
	 
	 
	 	 	 	 
	DEFINITIONS
	 
	 
	 	 	 	 
	Section 1.01. Definitions
	 	 	2	 
	Section 1.02. Other Definitional Provisions
	 	 	2	 
	 
	 	 	 	 
	ARTICLE 2
	 
	 
	 	 	 	 
	THE LOANS
	 
	 
	 	 	 	 
	Section 2.01. The Loans
	 	 	2	 
	Section 2.02. Issuance of Equipment Notes
	 	 	3	 
	Section 2.03. The Closing
	 	 	3	 
	 
	 	 	 	 
	ARTICLE 3
	 
	 
	 	 	 	 
	CONDITIONS PRECEDENT
	 
	 
	 	 	 	 
	Section 3.01. Conditions Precedent to Obligations of Pass Through Trustees
	 	 	3	 
	Section 3.02. Conditions Precedent to Obligations of Company
	 	 	7	 
	 
	 	 	 	 
	ARTICLE 4
	 
	 
	 	 	 	 
	REPRESENTATIONS, WARRANTIES AND INDEMNITIES OF COMPANY
	 
	 
	 	 	 	 
	Section 4.01. Representations and Warranties of Company
	 	 	9	 
	Section 4.02. General Indemnity
	 	 	11	 
	 
	 	 	 	 
	ARTICLE 5
	 
	 
	 	 	 	 
	REPRESENTATIONS, WARRANTIES AND COVENANTS OF U.S. BANK
	 
	 
	 	 	 	 
	Section 5.01. Representations, Warranties and Covenants of U.S. Bank
	 	 	18	 
	 
	 	 	 	 
	ARTICLE 6
	 
	 
	 	 	 	 
	OTHER COVENANTS AND AGREEMENTS
	 
	 
	 	 	 	 
	Section 6.01. Other Agreements
	 	 	21	 
	Section 6.02. Certain Covenants of Company
	 	 	24	 

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TABLE OF CONTENTS

(continued)

	 	 	 	 	 
	 	 	Page	 
	ARTICLE 7
	 
	 
	 	 	 	 
	MISCELLANEOUS
	 
	 
	 	 	 	 
	Section 7.01. Notices
	 	 	26	 
	Section 7.02. Survival of Representations,
Warranties, Indemnities, Covenants and Agreements
	 	 	28	 
	Section 7.03. Governing Law
	 	 	28	 
	Section 7.04. Severability
	 	 	28	 
	Section 7.05. No Oral Modifications or Continuing Waivers; Consents
	 	 	28	 
	Section 7.06. Effect of Headings and Table of Contents
	 	 	29	 
	Section 7.07. Successors and Assigns
	 	 	29	 
	Section 7.08. Benefits of Agreement
	 	 	29	 
	Section 7.09. Counterparts
	 	 	29	 
	Section 7.10. Submission to Jurisdiction
	 	 	29	 
	Section 7.11. Further Assurances
	 	 	30	 
	Section 7.12. Section 1110
	 	 	30	 

	 	 	 	 	 
	 
	 	 	 	 
	Schedule I

	 	-
	 	Equipment Notes, Purchasers and Original Principal Amounts
	Schedule II

	 	-
	 	Trust Supplements
	 
	 	 	 	 
	Exhibit A-1

	 	-
	 	Form of Opinion of Counsel for Company
	Exhibit A-2

	 	-
	 	Form of Opinion of Debevoise & Plimpton LLP, special counsel for Company
	Exhibit B

	 	-
	 	Form of Opinion of Special Counsel for Loan Trustee, Pass Through Trustees,
Subordination Agent and U.S. Bank
	Exhibit C

	 	-
	 	Form of Opinion of Special FAA Counsel
	Exhibit D

	 	-
	 	Form of Manufacturer’s Consent
	Exhibit E-1

	 	-
	 	Form of Opinion of Special Delaware Tax Counsel for Pass Through Trustees
	Exhibit E-2

	 	-
	 	Form of Opinion of Special Delaware UCC Counsel for Company
	 
	 	 	 	 
	Annex A

	 	-
	 	Definitions

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PARTICIPATION AGREEMENT

([REG. NO.])

     This PARTICIPATION AGREEMENT ([REG. NO.]), dated as of _________, 20___2, is made
by and among DELTA AIR LINES, INC., a Delaware corporation (together with its successors and
permitted assigns, “Company”), U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking
association (in its individual capacity, together with its successors and permitted assigns,
“U.S. Bank”), not in its individual capacity except as otherwise expressly provided in any
of the Operative Documents or the Pass Through Documents, but solely as trustee (in such capacity
together with any successor or other trustee in such capacity, “Pass Through Trustee”)
under each of the Pass Through Trust Agreements (such term and other capitalized terms used herein
without definition being defined as provided in Section 1.01), U.S. BANK TRUST NATIONAL
ASSOCIATION, a national banking association, as subordination agent and trustee (in such capacity,
together with any successor trustee in such capacity, “Subordination Agent”) under the
Intercreditor Agreement, and U.S. BANK TRUST NATIONAL ASSOCIATION, as loan trustee (in such
capacity, together with any successor trustee in such capacity, “Loan Trustee”) under the
Indenture.

WITNESSETH:

     WHEREAS, Company is the owner of that certain Boeing Model [Model] aircraft more particularly
described in the Indenture Supplement originally executed and delivered under the Indenture;

     WHEREAS, concurrently with the execution and delivery of this Agreement, Company and Loan
Trustee are entering into the Indenture, pursuant to which, among other things, Company will issue
two separate series of Equipment Notes, which Equipment Notes are to be secured by a security
interest in all right, title and interest of Company in and to the Aircraft and certain other
property described in the Indenture;

     WHEREAS, pursuant to the Basic Pass Through Trust Agreement and each of the Trust Supplements
set forth in Schedule II, the Pass Through Trusts were created and the Pass Through Certificates
issued and sold;

     WHEREAS, pursuant to the Intercreditor Agreement, Subordination Agent will hold the Equipment
Notes on behalf of the Pass Through Trusts;

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

 

			
	2	 	To insert the relevant Closing Date.

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ARTICLE 1

DEFINITIONS

     Section 1.01. Definitions. For the purposes of this Agreement, unless the context
otherwise requires, capitalized terms used but not defined herein shall have the respective
meanings set forth or incorporated by reference in Annex A.

     Section 1.02. Other Definitional Provisions. (a) The definitions stated herein and
in Annex A apply equally to both the singular and the plural forms of the terms defined.

     (b) All references in this Agreement to designated “Articles”, “Sections”,
“Subsections”, “Schedules”, “Exhibits”, “Annexes” and other subdivisions are to the
designated Article, Section, Subsection, Schedule, Exhibit, Annex or other subdivision of
this Agreement, unless otherwise specifically stated.

     (c) The words “herein”, “hereof” and “hereunder” and other words of similar import
refer to this Agreement as a whole and not to any particular Article, Section, Subsection,
Schedule, Exhibit, Annex or other subdivision.

     (d) All references in this Agreement to a “government” are to such government and any
instrumentality or agency thereof.

     (e) Unless the context otherwise requires, whenever the words “including”, “include”
or “includes” are used herein, they shall be deemed to be followed by the phrase “without
limitation”.

     (f) All references in this Agreement to a Person shall include successors and
permitted assigns of such Person.

ARTICLE 2

THE LOANS

     Section 2.01. The Loans. Subject to the terms and conditions of this Agreement and
the Indenture, on the Closing Date, Pass Through Trustee for each Pass Through Trust shall make a
loan to Company by paying to Company the aggregate original principal amounts of the Equipment
Notes being issued to such Pass Through Trust as set forth on Schedule I opposite the name of such
Pass Through Trust. Pass Through Trustees, on behalf of the Pass Through Trusts, shall make such
loans to Company no later than 11:00 a.m. (New York City time) on the Closing Date by transferring
such amount in immediately available funds to Company at its account at JP Morgan Chase

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Bank, One Chase Manhattan Plaza — 7th Floor, New York, New York, 10005, Account
No. [__________], ABA Number [_________], with the request that the bank advise Company by telephone at
(404) 715-2046 upon transfer of the funds.

     Section 2.02. Issuance of Equipment Notes. Upon the occurrence of the above payments
by Pass Through Trustee for each Pass Through Trust to Company, Company shall issue, pursuant to
and in accordance with Article II of the Indenture, to Subordination Agent as agent and trustee for
Pass Through Trustee for each Pass Through Trust, one or more Equipment Notes of the maturity and
aggregate principal amount and bearing the interest rate set forth in Schedule I opposite the name
of such Pass Through Trust. Each such Equipment Note shall be duly authenticated by Loan Trustee
pursuant to the Indenture, registered in the name of Subordination Agent and dated the Closing Date
and shall be delivered by Loan Trustee to Subordination Agent. In addition, subject to Section
4(a)(v) of the Note Purchase Agreement and Section 8.01(c) or 8.01(d) of the Intercreditor
Agreement, as applicable, Company shall have the option after the Closing Date, from time to time,
(i) to redeem all but not less than all of the Series B Equipment Notes (or all but not
less than all of any Additional Series Equipment Notes) and to issue under the Indenture new
Equipment Notes with the same Series designation as, but with terms that may differ from those of,
the redeemed Equipment Notes and (ii) to issue one series (and only one outstanding series
at any time) of Additional Series Equipment Notes under the Indenture. If Series B or Additional
Series Equipment Notes are so issued after the Closing Date, each Noteholder of such Equipment
Notes shall be deemed to be a party hereto without further act, and shall be entitled to execute,
and at the request of Company shall execute, a counterpart to this Agreement.

     Section 2.03. The Closing. The closing (the “Closing”) of the transactions
contemplated hereby shall take place at the offices of Debevoise & Plimpton LLP, 919 Third Avenue,
New York, New York 10022 at 9:30 a.m. (New York City time) on
_________, 20___ or at such other
time or place as the parties shall agree.

ARTICLE 3

CONDITIONS PRECEDENT

     Section 3.01. Conditions Precedent to Obligations of Pass Through Trustees. The
obligation of each Pass Through Trustee to make the loan contemplated by Article II is subject to
the fulfillment (or the waiver by such Pass Through Trustee) prior to or on the Closing Date of the
following conditions precedent:

     (a) Authentication. Company shall have tendered the Equipment Notes to Loan
Trustee for authentication, and Loan Trustee shall have authenticated such Equipment Notes
and shall have tendered the Equipment Notes

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to Subordination Agent on behalf of the applicable Pass Through Trustee, against
receipt of the loan proceeds, in accordance with Section 2.02.

     (b) No Changes in Law. No change shall have occurred after the date of this
Agreement in applicable law or regulations thereunder or interpretations thereof by
appropriate regulatory authorities or any court that would make it a violation of law or
governmental regulations for Pass Through Trustees to make the loans contemplated by
Section 2.01 or to acquire the Equipment Notes.

     (c) Documentation. This Agreement and the following documents shall have been
duly authorized, executed and delivered by the respective party or parties thereto (other
than Pass Through Trustees or Loan Trustee), shall be in full force and effect and executed
counterparts (or copies thereof where indicated) thereof shall have been delivered to each
Pass Through Trustee:

     (i) the Intercreditor Agreement;

     (ii) the Liquidity Facilities;

     (iii) the Pass Through Trust Agreements;

     (iv) the Indenture and the Indenture Supplement covering the Aircraft and
dated the Closing Date;

     (v) the Manufacturer’s Consent;

     (vi) a copy of the FAA Bill of Sale; and

     (vii) a copy of the Warranty Bill of Sale.

     (d) Financing Statement. A Uniform Commercial Code financing statement or
statements covering the security interest created by the Indenture naming Company, as
debtor, and Loan Trustee, as secured party, shall have been duly filed in all places
necessary or desirable within the State of Delaware.

     (e) Certain Closing Certificates. Each Pass Through Trustee shall have
received the following:

     (i) a certificate dated the Closing Date of the Secretary or an Assistant
Secretary of Company, certifying as to (A) a copy of the resolutions of the
Board of Directors of Company or the executive committee thereof duly authorizing
the transactions contemplated hereby and the execution, delivery and performance by
Company of this Agreement and the Indenture and each other document required to be
executed and delivered by Company in accordance with the provisions

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hereof or thereof and (B) a copy of the certificate of incorporation
and by-laws of Company, as in effect on the Closing Date;

     (ii) a certificate or other evidence from the Secretary of State of the State
of Delaware, dated as of a date reasonably near the Closing Date, as to the due
incorporation and good standing of Company in such state;

     (iii) an incumbency certificate of Company as to the person or persons
authorized to execute and deliver this Agreement, the Indenture and each other
document to be executed by Company in connection with the transactions contemplated
hereby and thereby, and the specimen signatures of such person or persons; and

     (iv) one or more certificates of Loan Trustee and Subordination Agent
certifying to the reasonable satisfaction of Pass Through Trustees as to the due
authorization, execution, delivery and performance by Loan Trustee and
Subordination Agent of each of the Operative Documents to which Loan Trustee or
Subordination Agent is or will be a party and any other documents to be executed by
or on behalf of Loan Trustee or Subordination Agent in connection with the
transactions contemplated hereby or thereby.

     (f) Representations; No Event of Default or Event of Loss. On the Closing
Date, the following statements shall be correct: (i) the representations and
warranties of Company herein are correct in all material respects as though made on and as
of such date, except to the extent that such representations and warranties relate solely
to an earlier date (in which case such representations and warranties are correct on and as
of such earlier date) and (ii) no event has occurred and is continuing that
constitutes an Event of Default or an Event of Loss or would constitute an Event of Default
or Event of Loss but for the requirement that notice be given or time elapse or both.

     (g) Opinion of Counsel to Company. Each Pass Through Trustee and Loan Trustee
shall have received (i) an opinion addressed to it from the General Counsel, Deputy
General Counsel or an Associate General Counsel of Company (or such other internal counsel
to Company as shall be reasonably satisfactory to Pass Through Trustees) substantially in
the form set forth in Exhibit A-1 and (ii) an opinion addressed to it from
Debevoise & Plimpton LLP substantially in the form set forth in Exhibit A-2.

     (h) Opinion of Counsel to U.S. Bank, Loan Trustee, Pass Through Trustees and
Subordination Agent. Each Pass Through Trustee and Loan Trustee shall have received an
opinion addressed to it from Shipman & Goodwin LLP,

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special counsel for U.S. Bank, Loan Trustee, Pass Through Trustees and Subordination
Agent, substantially in the form set forth in Exhibit B.

     (i) Opinion of FAA Counsel. Each Pass Through Trustee and Loan Trustee shall
have received an opinion addressed to it from Daugherty, Fowler, Peregrin, Haught & Jenson,
a Professional Corporation, special FAA counsel in Oklahoma City, Oklahoma, substantially
in the form set forth in Exhibit C.

     (j) Certification from Company. Each Pass Through Trustee and Loan Trustee
shall have received a certificate or certificates signed by the chief financial or
accounting officer, any Senior Vice President, the Treasurer, any Vice President or any
Assistant Treasurer (or any other Responsible Officer) of Company, dated the Closing Date,
certifying as to the correctness of each of the matters stated in Section 3.01(f).

     (k) Certification from U.S. Bank, Loan Trustee and Subordination Agent. Each
Pass Through Trustee shall have received a certificate from U.S. Bank in its individual
capacity and as Loan Trustee and Subordination Agent, as applicable, dated the Closing
Date, signed by an authorized officer of U.S. Bank in its individual capacity and as Loan
Trustee and Subordination Agent, as applicable, certifying for each such entity that no
Loan Trustee Liens or Other Party Liens attributable to it, as applicable, exist, and
further certifying as to the correctness of each of the matters stated in Section 5.01.

     (l) [Intentionally Omitted.]

     (m) Insurance Matters. Loan Trustee shall have received an insurance report
of an independent insurance broker and the related certificates of insurance, each in form
and substance reasonably satisfactory to Loan Trustee, as to the compliance with the terms
of Section 7.06 of the Indenture relating to insurance with respect to the Aircraft.

     (n) No Proceedings. No action or proceeding shall have been instituted nor
shall governmental action be threatened before any court or governmental agency, nor shall
any order, judgment or decree have been issued or proposed to be issued by any court or
governmental agency at the time of the Closing to set aside, restrain, enjoin or prevent
the completion and consummation of this Agreement or the transactions contemplated hereby.

     (o) Funding of Pass Through Trusts. Each Pass Through Trustee shall have
received in immediately available funds an amount at least equal to the aggregate purchase
price of the Equipment Notes to be purchased from Company by such Pass Through Trustee.

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     (p) Manufacturer’s Consent. Loan Trustee shall have received an executed copy
of the Manufacturer’s Consent substantially in the form set forth in Exhibit D.

     (q) Governmental Approvals. 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 has 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 have been
issued.

     (r) Satisfaction of Requirements under the Note Purchase Agreement. The
conditions precedent set forth in Section 2 of the Note Purchase Agreement, and the
requirements set forth in Section 1 of the Note Purchase Agreement relating to the Aircraft
and the Equipment Notes, shall have been satisfied.

     Promptly upon the recording of the Indenture (with the Indenture Supplement attached) pursuant
to the Transportation Code and the receipt of appropriate and correct recording information from
the FAA, Company will cause Daugherty, Fowler, Peregrin, Haught & Jenson, a Professional
Corporation, special FAA counsel in Oklahoma City, Oklahoma to deliver to Subordination Agent, to
Pass Through Trustees, to Loan Trustee and to Company an opinion as to the due recording of such
instrument and the lack of filing of any intervening documents with respect to the Aircraft.

     Section 3.02. Conditions Precedent to Obligations of Company. The obligation of
Company to issue and sell the Equipment Notes is subject to the fulfillment (or waiver by Company)
prior to or on the Closing Date of the following conditions precedent:

     (a) No Changes in Law. No change shall have occurred after the date of this
Agreement in applicable law or regulations thereunder or interpretations thereof by
appropriate regulatory authorities or any court that would make it a violation of law or
governmental regulations for Company to enter into any transaction contemplated by the
Operative Documents, the Note Purchase Agreement or the other Pass Through Documents.

     (b) Documentation. The documents referred to in Section 3.01(c) shall have
been duly authorized, executed and delivered by the respective party or parties thereto
(other than Company), shall be in full force and effect and executed counterparts (or
copies thereof where indicated) thereof shall have been delivered to Company, and Company
shall have received such documents and evidence with respect to U.S. Bank, each Liquidity
Provider, Loan Trustee, Subordination Agent and each Pass Through Trustee as Company
reasonably requests in order to establish the consummation of the transactions contemplated

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by this Agreement, the taking of all corporate and other proceedings in connection
therewith and compliance with the conditions herein set forth.

     (c) FAA Filing. The Indenture (with the Indenture Supplement covering the
Aircraft attached) shall have been duly filed for recordation (or shall be in the process
of being so duly filed for recordation) with the FAA pursuant to the Transportation Code.
The registration of the International Interests (or Prospective International Interests)
created under the Indenture (as supplemented by the Indenture Supplement with respect to
the Aircraft) shall have been effected on the International Registry in accordance with the
Cape Town Treaty.

     (d) Representations and Warranties. On the Closing Date, the representations
and warranties herein of U.S. Bank, Loan Trustee, Subordination Agent and Pass Through
Trustees shall be correct as though made on and as of such date, except to the extent that
such representations and warranties relate solely to an earlier date (in which case such
representations and warranties shall have been correct on and as of such earlier date),
and, insofar as such representations and warranties concern U.S. Bank, Loan Trustee,
Subordination Agent or any Pass Through Trustee, such party shall have so certified to
Company.

     (e) Certain Opinions and Certificates. Company shall have received each
opinion referred to in Subsections 3.01(h) and 3.01(i), each such opinion addressed to
Company or accompanied by a letter from the counsel rendering such opinion authorizing
Company to rely on such opinion as if it were addressed to Company, and the certificates
referred to in Subsections 3.01(e)(iv) and 3.01(k).

     (f) Certain Opinion of Special Delaware Counsel. Company shall have received
an opinions addressed to it from Richards, Layton & Finger P.A., special Delaware counsel
for Pass Through Trustees, substantially in the forms set forth in Exhibit E-1, as to tax
matters, and Exhibit E-2, as to UCC matters.

     (g) No Proceedings. No action or proceeding shall have been instituted nor
shall governmental action be threatened before any court or governmental agency, nor shall
any order, judgment or decree have been issued or proposed to be issued by any court or
governmental agency at the time of the Closing to set aside, restrain, enjoin or prevent
the completion and consummation of this Agreement or the transactions contemplated hereby.

     (h) No Other Party Liens, etc. Company shall have received a certificate from
U.S. Bank dated the Closing Date, signed by an authorized officer of U.S. Bank, certifying
for each Pass Through Trustee that no Other Party Liens

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attributable to it exist and further certifying as to the correctness of each of the
matters stated in Section 5.01.

     (i) Payment for Equipment Notes. Company shall have been paid by each Pass
Through Trustee the aggregate original principal amount of the Equipment Notes being issued
to such Pass Through Trustee as set forth on Schedule I opposite the name of such Pass
Through Trust.

ARTICLE 4

REPRESENTATIONS, WARRANTIES AND INDEMNITIES OF COMPANY

     Section 4.01. Representations and Warranties of Company. Company represents and
warrants that:

     (a) Organization; Authority; Qualification. Company is a corporation duly
incorporated and validly existing in good standing under the laws of the State of Delaware,
is a Certificated Air Carrier, is a Citizen of the United States, has the corporate power
and authority to own its properties or hold them under lease and to enter into and perform
its obligations under the Operative Documents to which it is a party and is duly qualified
to do business as a foreign corporation in good standing in each other jurisdiction in
which the failure to so qualify would have a material adverse effect on the consolidated
financial condition of Company and its subsidiaries, considered as a whole, and its
jurisdiction of organization (as such term is used in Article 9 of the Uniform Commercial
Code as in effect in the State of Delaware) is Delaware.

     (b) Corporate Action and Authorization; No Violations. The execution,
delivery and performance by Company of this Agreement and the other Operative Documents to
which Company is a party have been duly authorized by all necessary corporate action on the
part of Company, do not require any stockholder approval or approval or consent of any
trustee or holder of any indebtedness or obligations of Company, except such as have been
duly obtained and are in full force and effect, and do not contravene any law, governmental
rule, regulation, judgment or order binding on Company or the certificate of incorporation
or by-laws of Company or contravene or result in a breach of, or constitute a default
under, or result in the creation of any Lien (other than as permitted under the Indenture)
upon the property of Company under, any material indenture, mortgage, contract or other
agreement to which Company is a party or by which it or any of its properties may be bound
or affected.

     (c) Governmental Approvals. Neither the execution and delivery by Company of
this Agreement and the other Operative Documents to which it is a party, nor the
consummation by Company of any of the transactions contemplated

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hereby or thereby, requires the authorization, consent or approval of, the giving of
notice to, the filing or registration with or the taking of any other action in respect of,
the Department of Transportation, the FAA or any other federal or state governmental
authority or agency, or the International Registry, except for (i) the registration
of the issuance and sale of the Pass Through Certificates under the Securities Act and
under the securities laws of any state or other jurisdiction in which the Pass Through
Certificates may be offered for sale if the laws of such state or other jurisdiction
require such action, (ii) the qualification of the Pass Through Trust Agreements
under the Trust Indenture Act, (iii) the orders, permits, waivers, exemptions,
authorizations and approvals of the regulatory authorities having jurisdiction over
Company’s ownership or operation of the Aircraft required to be obtained on or prior to the
Closing Date, which orders, permits, waivers, exemptions, authorizations and approvals have
been duly obtained and are, or on the Closing Date will be, in full force and effect,
(iv) the filings and registrations referred to in Section 4.01(e), (v)
authorizations, consents, approvals, notices and filings required to be obtained, taken,
given or made under securities or Blue Sky or similar laws of the various states and
foreign jurisdictions and (vi) consents, approvals, notices, registrations and
other actions required to be obtained, given, made or taken only after the date hereof.

     (d) Valid and Binding Agreements. This Agreement and each other Operative
Document to which Company is a party have been duly executed and delivered by Company and
constitute the legal, valid and binding obligations of Company enforceable against Company
in accordance with their terms, except as the same may be limited by bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting the rights of
creditors generally and by general principles of equity and except, in the case of the
Indenture, as limited by applicable laws that may affect the remedies provided in the
Indenture, which laws, however, do not make the remedies provided in the Indenture
inadequate for the practical realization of the rights and benefits intended to provided
thereby.

     (e) Filings and Recordation. Except for (i) the filing for
recordation pursuant to the Transportation Code of the Indenture (with the Indenture
Supplement covering the Aircraft attached), (ii) with respect to the security
interests created by such documents, the filing of financing statements (and continuation
statements at periodic intervals) under the Uniform Commercial Code of Delaware, and
(iii) the registration on the International Registry of the International Interests
(or Prospective International Interests) created under the Indenture (as supplemented by
the Indenture Supplement covering the Aircraft), no further filing or recording of any
document is necessary under the laws of the United States or any state thereof as of the
Closing Date in order to establish and perfect the security interest in the Aircraft
created under the Indenture in favor of

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Loan Trustee as against Company and any third parties in any applicable jurisdiction
in the United States.

     (f) Investment Company Act. Company is not required to be registered as an
“investment company” within the meaning of the Investment Company Act of 1940, as amended.

     (g) Title. As of the Closing Date, (i) Company has good title to the
Aircraft, free and clear of Liens other than Permitted Liens, (ii) the Aircraft has
been duly certificated by the FAA as to type and airworthiness in accordance with the terms
of the Indenture, (iii) the Indenture (with the Indenture Supplement covering the
Aircraft attached) has been duly filed for recordation (or shall be in the process of being
so duly filed for recordation) with the FAA pursuant to the Transportation Code,
(iv) the Aircraft is duly registered with the FAA in the name of Company, and
(v) the registration of the International Interests (or Prospective International
Interests) created under the Indenture (as supplemented by the Indenture Supplement with
respect to the Aircraft) shall have been effected on the International Registry in
accordance with the Cape Town Treaty.

     (h) Section 1110. Loan Trustee is entitled to the benefits of Section 1110
with respect to the Aircraft being subjected to the Lien of the Indenture on the Closing
Date.

     (i) Security Interest. The Indenture creates in favor of Loan Trustee, for
the benefit of Noteholders, Indenture Indemnitees and Related Indenture Indemnitees, a
valid and perfected Lien on the Aircraft purported to be subjected to the Lien of the
Indenture on the Closing Date, subject to no equal or prior Lien, except Permitted Liens.

     (j) Licenses, Permits and Franchises. Company holds all licenses, permits and
franchises from the appropriate government entities necessary to authorize Company lawfully
to 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 have a material adverse effect on the financial condition or operations
of Company and its consolidated subsidiaries, taken as a whole.

     Section 4.02. General Indemnity. (a) Claims Defined. For the purposes of
this Section 4.02, “Claims” means any and all liabilities, obligations, losses, damages,
penalties, claims, actions, suits, costs or expenses of whatsoever kind and nature (whether or not
on the basis of negligence, strict or absolute liability or liability in tort) that may be imposed
on, incurred by, suffered by or asserted against an Indemnitee, as defined below, and, except as
otherwise expressly provided in this Section 4.02, includes all reasonable out-of-pocket costs,
disbursements and expenses (including reasonable out-of-pocket

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legal fees and expenses) actually incurred by an Indemnitee in connection therewith or related
thereto.

     (b) Indemnitee Defined. For the purposes of this Section 4.02,
“Indemnitee” means (i) U.S. Bank and Loan Trustee, (ii) each
separate or additional trustee appointed pursuant to Section 8.02 of the Indenture,
(iii) so long as it holds any Equipment Notes as agent and trustee of any Pass
Through Trustee, Subordination Agent (iv) so long as it is the holder of any
Equipment Notes, each Pass Through Trustee, (v) each Liquidity Provider,
(vi) any Related Noteholder, (vii) the Escrow Agent, (viii) the
Paying Agent and (ix) each of their respective successors and permitted assigns in
such capacities, agents, servants, officers, employees and directors (the respective
agents, servants, officers, employees and directors of each of the foregoing Indemnitees,
as applicable, together with such Indemnitee, collectively the “Related Indemnitee
Group” of such Indemnitee); provided that such Persons, to the extent they are
not signatories to this Agreement, have expressly agreed in writing to be bound by the
terms of this Section 4.02 prior to, or concurrently with, the making of a Claim. If any
Indemnitee fails to comply with any duty or obligation under this Section 4.02 with respect
to any Claim, such Indemnitee shall not be entitled to any indemnity with respect to such
Claim under this Section 4.02 to the extent such failure was prejudicial to Company. No
holder of a Pass Through Certificate in its capacity as such holder shall be an Indemnitee.

     (c) Claims Indemnified. Subject to the exclusions stated in Subsection
4.02(d), Company agrees to indemnify, protect, defend and hold harmless on an After-Tax
Basis each Indemnitee against Claims resulting from or arising out of (a) the
Operative Documents or the enforcement of any of the terms of the Operative Documents,
(b) the Aircraft, the Airframe, any Engine or any Part, including, without
limitation, with respect thereto, (i) the sale, purchase, acceptance,
non-acceptance or rejection of the Aircraft under the Purchase Agreement or the ownership,
possession, use, non-use, substitution, airworthiness, control, maintenance, repair,
operation, registration, re-registration, de-registration, delivery, non-delivery,
assignment, abandonment, condition, sale, lease, sublease, storage, modification,
alteration, return, transfer or other disposition of the Aircraft, the Airframe, any Engine
or any Part (including, without limitation, latent or other defects, whether or not
discoverable, and any claim for patent, trademark or copyright infringement) by Company,
any Permitted Lessee or any other Person, (ii) tort liability, whether or not
arising out of the negligence of any Indemnitee (whether active, passive or imputed),
(iii) death or property damage of passengers, shippers or others, and (iv)
environmental control, noise or pollution, and (c) the offer, sale or delivery of
any Equipment Notes, Pass Through Certificates or any interest therein or represented
thereby. Without limiting the foregoing and subject to, and without duplication

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of, the provisions of Section 6.01(a), Company agrees to pay the reasonable ongoing
fees, and the reasonable out-of-pocket costs and expenses actually incurred (including,
without limitation, reasonable attorney’s fees and disbursements actually incurred and, to
the extent payable as provided in the Indenture, reasonable compensation and expenses of
Loan Trustee’s agents actually incurred), of Loan Trustee in connection with the
transactions contemplated hereby.

     (d) Claims Excluded. The following are excluded from Company’s agreement to
indemnify an Indemnitee under this Section 4.02:

     (i) any Claim to the extent such Claim is attributable to acts or events
occurring after (A) the Lien of the Indenture has been discharged, or
(B) the transfer of possession of the Aircraft pursuant to Article IV of
the Indenture except to the extent that such Claim is attributable to acts
occurring in connection with the exercise of remedies pursuant to Section 4.02 of
the Indenture following the occurrence and continuance of an Event of Default;

     (ii) any Claim to the extent such Claim is, or is attributable to, a Tax (or
loss of any Tax benefit), except with respect to paying indemnity amounts on an
After-Tax Basis;

     (iii) any Claim to the extent such Claim is attributable to the negligence or
willful misconduct of such Indemnitee or such Indemnitee’s Related Indemnitee
Group;

     (iv) any Claim to the extent such Claim is attributable to the noncompliance
by such Indemnitee or such Indemnitee’s Related Indemnitee Group with any of the
terms of, or any misrepresentation by an Indemnitee or its Related Indemnitee Group
contained in, this Agreement, any other Operative Document or any Pass Through
Document to which such Indemnitee or any of such Related Indemnitee Group is a
party or any agreement relating hereto or thereto;

     (v) any Claim to the extent such Claim constitutes a Permitted Lien
attributable to such Indemnitee;

     (vi) any Claim to the extent such Claim is attributable to the offer, sale,
assignment, transfer, participation or other disposition (whether voluntary or
involuntary) by or on behalf of such Indemnitee or its Related Indemnitee Group
(other than during the occurrence and continuance of an Event of Default;
provided that any such offer, sale, assignment, transfer, participation or
other disposition during the occurrence and continuation

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of an Event of Default shall not be subject to indemnification unless it is
made in accordance with the Indenture and applicable law) of any Equipment Note or
interest therein or Pass Through Certificate, all or any part of such Indemnitee’s
interest in the Operative Documents or the Pass Through Documents, or any interest
in the Collateral or any similar security;

     (vii) any Claim to the extent such Claim is attributable to (A) a
failure on the part of Loan Trustee to distribute in accordance with this Agreement
or any other Operative Document any amounts received and distributable by it
hereunder or thereunder, (B) a failure on the part of Subordination Agent
to distribute in accordance with the Intercreditor Agreement any amounts received
and distributable by it thereunder, (C) a failure on the part of any Pass
Through Trustee to distribute in accordance with the Pass Through Trust Agreement
to which it is a party any amounts received and distributable by it thereunder,
(D) a failure on the part of Escrow Agent to distribute in accordance with
the Escrow Agreement any amounts received and distributable by it thereunder,
(E) a failure on the part of Paying Agent to distribute in accordance with
the Escrow Agreement any amounts received and distributable by it thereunder or
(F) a failure on the part of Depositary to pay funds payable by it in
accordance with any Deposit Agreement;

     (viii) any Claim to the extent such Claim is attributable to the authorization
or giving or withholding of any future amendments, supplements, waivers or consents
with respect to any Operative Document or any Pass Through Document, other than
such as have been requested by Company or that occur as the result of an Event of
Default, or such as are expressly required or contemplated by the provisions of the
Operative Documents or the Pass Through Documents;

     (ix) any Claim to the extent such Claim is payable or borne by (A)
Company pursuant to any indemnification, compensation or reimbursement provision of
any other Operative Document or any Pass Through Document or (B) a Person
other than Company pursuant to any provision of any Operative Document or any Pass
Through Document;

     (x) any Claim to the extent such Claim is an ordinary and usual operating or
overhead expense or not an out-of-pocket expense actually incurred;

     (xi) any Claim to the extent such Claim is incurred on account of or asserted
as a result of any “prohibited transaction” within the meaning of Section 406 of
ERISA or Section 4975 of the Code;

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     (xii) any Claim to the extent such Claim is attributable to one or more of the
other aircraft financed through the offering of Pass Through Certificates (in the
event of doubt, any Claim shall be allocated between the Aircraft and such other
aircraft in the same proportion that the then outstanding Equipment Notes bear to
the then outstanding equipment notes issued with respect to the other aircraft and
held by Pass Through Trustees);

     (xiii) any Claim to the extent such Claim is attributable to any amount which
any Indemnitee expressly agrees shall not be paid by, borne by, or reimbursed by
Company;

     (xiv) any Claim by an Indemnitee related to the status of such Indemnitee as a
passenger or shipper on any of Company’s aircraft or as a party to a marketing or
promotional or other commercial agreement with Company unrelated to the
transactions contemplated by the Operative Documents; and

     (xv) any Claim to the extent such Claim is attributable to the offer or sale
by an Indemnitee (or any member of such Indemnitee’s Related Indemnitee Group) 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 Company of any of its affiliates).

     (e) Insured Claims. In the case of any Claim indemnified by Company hereunder
that is covered by a policy of insurance maintained by Company, each Indemnitee agrees to
cooperate, at Company’s expense, with the insurers in the exercise of their rights to
investigate, defend and compromise such Claim.

     (f) Claims Procedure. An Indemnitee shall promptly notify Company of any
Claim as to which indemnification is sought. The failure to provide such prompt notice
shall not release Company from any of its obligations to indemnify hereunder except to the
extent that Company is prejudiced by such failure or Company’s indemnification obligations
are increased as a result of such failure (in which event Company shall not be responsible
for such additional indemnification obligations). Such Indemnitee shall promptly submit to
Company all additional information in such Indemnitee’s possession to substantiate such
Claim as Company reasonably requests. Subject to the rights of Company’s insurers, Company
may, at its sole cost and expense, investigate any Claim, and may in its sole discretion
defend or compromise any Claim. At Company’s expense, any Indemnitee shall cooperate with
all reasonable requests of Company

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in connection therewith. Such Indemnitee shall not enter into a settlement or other
compromise with respect to any Claim without the prior written consent of Company, which
consent shall not be unreasonably withheld or delayed, unless such Indemnitee waives its
right to be indemnified with respect to such Claim. Where Company or its insurers undertake
the defense of an Indemnitee with respect to a Claim, no additional legal fees or expenses
of such Indemnitee in connection with the defense of such Claim shall be indemnified
hereunder unless such fees or expenses were incurred at the written request of Company or
such insurers. Subject to the requirements of any policy of insurance, an Indemnitee may
participate at its own expense in any judicial proceeding controlled by Company pursuant to
the preceding provisions; provided that such party’s participation does not, in the
opinion of outside counsel appointed by Company or its insurers to conduct such
proceedings, interfere with such control. Such participation shall not constitute a waiver
of the indemnification provided in this Section 4.02. Notwithstanding anything to the
contrary contained herein, Company shall not under any circumstances be liable for the fees
and expenses of more than one counsel for all Indemnitees with respect to any one Claim.
Notwithstanding anything to the contrary contained herein, an Indemnitee shall not under
any circumstances be required or deemed to be required to contest any Claim or to assume
responsibility for or control of any judicial proceeding with respect thereto. Company will
provide the relevant Indemnitee with such information not within the control of such
Indemnitee, as is in Company’s control or is reasonably available to Company, which such
Indemnitee may reasonably request and will otherwise cooperate with such Indemnitee so as
to enable such Indemnitee to fulfill its obligations under this Section.

     (g) Subrogation. To the extent that a Claim is in fact paid in full by
Company or its insurer, Company or such insurer (as the case may be) shall, without any
further action, be subrogated to the rights and remedies of the Indemnitee on whose behalf
such Claim was paid with respect to the transaction or event giving rise to such Claim.
Such Indemnitee shall give such further assurances or agreements and shall cooperate with
Company or such insurer, as the case may be, to permit Company or such insurer to pursue
such rights and remedies, if any, to the extent reasonably requested by Company. So long as
no Event of Default has occurred and is continuing, if an Indemnitee receives any payment,
in whole or in part, from any party other than Company or its insurers with respect to any
Claim paid by Company or its insurers, it shall promptly pay over to Company the amount
received (but not an amount in excess of the amount Company or any of its insurers has paid
in respect of such Claim). Any amount referred to in the preceding sentence that is payable
to Company shall not be paid to Company, or, if it has been previously paid directly to
Company, shall not be retained by Company, if at the time of such payment an Event of
Default has occurred and is continuing, but shall be paid to and held by Loan Trustee as

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security for the obligations of Company under the Operative Documents. If Company
agrees, such amount payable shall be applied against Company’s obligations thereunder when
and as they become due and payable. At such time as such Event of Default is no longer
continuing, such amount, to the extent not previously so applied against Company’s
obligations, shall be paid to Company.

     (h) No Guaranty. Nothing set forth in this Section 4.02 constitutes a
guarantee by Company that the Aircraft at any time will have any particular value, useful
life or residual value.

     (i) Payments; Interest. Any amount payable to any Indemnitee on account of a
Claim shall be paid within 30 days after receipt by Company of a written demand therefor
from such Indemnitee accompanied by a written statement describing in reasonable detail the
Claims that are the subject of and basis for such indemnity and the computation of the
amount payable. Any payments made pursuant to this Section 4.02 directly to an Indemnitee
or to Company, as the case may be, shall be made in immediately available funds at such
bank or to such account as is specified by the payee in written directions to the payor or,
if no such directions are given, by check of the payor payable to the order of the payee
and mailed to the payee by certified mail, return receipt requested, postage prepaid to its
address referred to in Section 7.01. To the extent permitted by applicable law, interest at
the Past Due Rate shall be paid, on demand, on any amount or indemnity not paid when due
pursuant to this Section 4.02 until the same is paid. Such interest shall be paid in the
same manner as the unpaid amount in respect of which such interest is due.

     (j) Tax Deduction or Credit. If, by reason of any payment made to or for the
account of any Indemnitee by Company, or by reason of any Claim of any Indemnitee paid or
indemnified against by Company, in each case pursuant to Section 4.02, such Indemnitee
realizes a Tax deduction or credit not previously taken into account in computing such
payment, such Indemnitee shall promptly pay to Company an amount equal to the sum of
(i) the actual reduction in Taxes realized by such Indemnitee which is attributable
to such deduction or credit, and (ii) the actual reduction in Taxes realized by
such Indemnitee as a result of any payment made by such Indemnitee pursuant to this
sentence; provided that the amount payable by such Indemnitee pursuant to this
sentence shall not exceed the sum of all amounts previously paid by Company to such
Indemnitee pursuant to this Section 4.02; provided, further, that any such
excess shall be carried forward and applied to reduce pro tanto any subsequent obligations
of Company to make payments to such Indemnitee pursuant to Section 4.02. If such Tax
deduction or credit is subsequently disallowed or lost, upon written notice from the
Indemnitee Company shall promptly repay all amounts paid to it pursuant to this Section
4.02(j) in respect of such disallowed or lost deduction or credit. If, at the time an
amount would otherwise be payable to Company under this Section 4.02(j), any

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Event of Default shall have occurred and be continuing, such amount shall be held by
the relevant Indemnitee as security for the obligations of Company under the Operative
Documents. At such time as no Event of Default is continuing, such amount or portion
thereof shall be applied to offset Company’s outstanding obligations under the Operative
Documents and any remaining amount after such application shall be paid to Company.

ARTICLE 5

REPRESENTATIONS, WARRANTIES AND COVENANTS OF U.S. BANK

     Section 5.01. Representations, Warranties and Covenants of U.S. Bank. U.S. Bank,
generally, and each of Loan Trustee, Subordination Agent and Pass Through Trustee as it relates to
it, represents, warrants and covenants that:

     (a) Organization; Authority. U.S. Bank is a national banking association duly
organized and validly existing in good standing under the laws of the United States, is
eligible to be Loan Trustee under Section 8.01(a) of the Indenture, will promptly comply
with Section 8.01(a) of the Indenture and has full power, authority and legal right to
enter into and perform its obligations under each of the Operative Documents and the Pass
Through Documents to which U.S. Bank, Loan Trustee, Subordination Agent or any Pass Through
Trustee is a party and, in its capacity as Loan Trustee and Pass Through Trustee,
respectively, to authenticate the Equipment Notes and the Pass Through Certificates,
respectively. U.S. Bank is qualified to act as Loan Trustee under Section 8.01(c) of the
Indenture. U.S. Bank is a Citizen of the United States (without the use of a voting trust
agreement), and will resign as Loan Trustee under the Indenture promptly after it obtains
actual knowledge that it has ceased to be such a Citizen of the United States.

     (b) Due Authorization; No Violations. The execution, delivery and performance
by U.S. Bank, individually or in its capacity as Loan Trustee, Subordination Agent or Pass
Through Trustee, as the case may be, of this Agreement, each of the other Operative
Documents and each of the Pass Through Documents to which U.S. Bank, Loan Trustee,
Subordination Agent or any Pass Through Trustee is a party, the performance by U.S. Bank,
individually or in its capacity as Loan Trustee, Subordination Agent or Pass Through
Trustee, as the case may be, of its obligations thereunder and the consummation on the
Closing Date or the Issuance Date, as the case may be, of the transactions contemplated
thereby, and the authentication of the Equipment Notes and the Pass Through Certificates,
respectively, to be delivered on the Closing Date or the Issuance Date, as the case may be:
(i) have been duly authorized by all necessary action on the part of U.S. Bank,
Loan Trustee, Subordination Agent and each Pass Through Trustee, as the case may be,
(ii) do not violate any law or regulation of the United

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States or of the state of the United States in which U.S. Bank is located and which
governs the banking and trust powers of U.S. Bank or any order, writ, judgment or decree of
any court, arbitrator or governmental authority applicable to U.S. Bank, Loan Trustee,
Subordination Agent or any Pass Through Trustee or any of their assets, (iii) will
not violate any provision of the articles of association or by-laws of U.S. Bank and
(iv)will not violate any provision of, or constitute a default under, any mortgage,
indenture, contract, agreement or undertaking to which any of U.S. Bank, Loan Trustee,
Subordination Agent or any Pass Through Trustee is a party or by which any of them or their
respective properties may be bound or affected.

     (c) Approvals. Neither the execution and delivery by U.S. Bank, individually
or in its capacity as Loan Trustee, Subordination Agent or Pass Through Trustee, as the
case may be, of this Agreement, any other Operative Document or any Pass Through Document
to which U.S. Bank, Loan Trustee, Subordination Agent or any Pass Through Trustee is a
party, nor the consummation by U.S. Bank, Loan Trustee, Subordination Agent or any Pass
Through Trustee of any of the transactions contemplated hereby or thereby, requires the
authorization, consent or approval of, the giving of notice to, the filing or registration
with, or the taking of any other action in respect of, (i) any governmental
authority or agency of the United States or the state of the United States where U.S. Bank
is located and regulating the banking and trust powers of U.S. Bank or (ii) any
trustee or other holder of any debt of U.S. Bank.

     (d) Valid and Binding Agreements. This Agreement, each other Operative
Document and each Pass Through Document to which U.S. Bank, Loan Trustee, Subordination
Agent or any Pass Through Trustee is a party have been duly executed and delivered by U.S.
Bank, individually and in its capacity as Loan Trustee, Subordination Agent or Pass Through
Trustee, as the case may be, and constitute the legal, valid and binding obligations of
U.S. Bank, Loan Trustee, Subordination Agent and such Pass Through Trustee, as the case may
be, enforceable against it in accordance with its terms, except as the same may be limited
by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the
rights of creditors generally and by general principles of equity.

     (e) No Loan Trustee Liens or Other Party Liens. It unconditionally agrees
with and for the benefit of the parties to this Agreement that it will not directly or
indirectly create, incur, assume or suffer to exist any Loan Trustee Lien or Other Party
Lien attributable to it, and it agrees that it will, at its own cost and expense, promptly
take such action as may be necessary to discharge and satisfy in full any such Lien.

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     (f) Intercreditor Agreement. The Equipment Notes to be issued to
Subordination Agent pursuant hereto are being acquired by it to be held under the
Intercreditor Agreement.

     (g) Funds Transfer Fees. Each of U.S. Bank, Loan Trustee, Subordination Agent
and each Pass Through Trustee agrees that it will not impose any lifting charge, cable
charge, remittance charge or any other charge or fee on any transfer by Company of funds
to, through or by U.S. Bank, Loan Trustee, Subordination Agent or such Pass Through Trustee
pursuant to this Agreement, any other Operative Document or any Pass Through Document,
except as may be otherwise agreed to in writing by Company.

     (h) Confidentiality. Each of U.S. Bank, Loan Trustee, Subordination Agent and
any Pass Through Trustee agrees to be bound by the terms of Section 10.16 of the Indenture.

     (i) Certain Tax Matters. There are no Taxes payable by (i) U.S. Bank,
Loan Trustee or Subordination Agent imposed by the Commonwealth of Massachusetts or any
political subdivision or taxing authority thereof, or (ii) U.S. Bank or Pass
Through Trustees imposed by the State of Delaware or any political subdivision or taxing
authority thereof, in connection with the execution, delivery or performance by U.S. Bank,
Loan Trustee or Subordination Agent on the one hand, or U.S. Bank or any Pass Through
Trustee, on the other, of any Operative Document or any Pass Through Document (other than
franchise or other taxes based on or measured by any fees or compensation received by any
such Person for services rendered in connection with the transactions contemplated by the
Operative Documents or the Pass Through Documents), and there are no Taxes payable by any
Pass Through Trustee imposed by the State of Delaware or any political subdivision thereof
in connection with the acquisition, possession or ownership by 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 such Pass Through Trustee for services rendered in
connection with the transactions contemplated by the Operative Documents or the Pass
Through Documents) and, assuming that the Pass Through Trusts will not be taxable for
Federal income tax purposes as corporations, but, rather, will be characterized for such
purposes as grantor trusts or partnerships, the Pass Through Trusts will not be subject to
any Taxes imposed by the State of Delaware or any political subdivision thereof.

     (j) Limitation on Situs of Activities. Except with the consent of Company,
which shall not be unreasonably withheld: (i) U.S. Bank will act as Pass Through
Trustee solely through its offices within the State of Delaware, except for such services
as may be performed for it by independent agents in the ordinary course of business, but
not directly by it, in other states; and (ii) U.S.

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Bank will act as Subordination Agent and Loan Trustee solely through its offices
within the Commonwealth of Massachusetts, except for such services as may be performed for
it by independent agents in the ordinary course of business, but not directly by it, in
other states.

     (k) No Proceedings. There are no pending or, to its knowledge, threatened
actions or proceedings against U.S. Bank, Loan Trustee, Subordination Agent or any Pass
Through Trustee before any court or administrative agency which individually or in the
aggregate, if determined adversely to it, would materially adversely affect the ability of
U.S. Bank, Loan Trustee, Subordination Agent or any Pass Through Trustee to perform its
obligations under any Operative Document or any Pass Through Document.

     (l) Other Representations. The representations and warranties contained in
Section 7.15 of the Basic Pass Through Trust Agreement and Section 7.04 of each Trust
Supplement are true, complete and correct as of the Closing Date.

ARTICLE 6

OTHER COVENANTS AND AGREEMENTS

     Section 6.01. Other Agreements. (a) Fees and Expenses. Company agrees
promptly to pay (without duplication of any other obligation Company may have to pay such amounts)
(1) the initial and annual fees and (to the extent Loan Trustee is entitled to be
reimbursed for its reasonable expenses) the reasonable expenses of Loan Trustee in connection with
the transactions contemplated hereby and (2) the following expenses incurred by Loan
Trustee, Subordination Agent and Pass Through Trustees in connection with the negotiation,
preparation, execution and delivery of this Agreement, the other Operative Documents and the other
documents or instruments referred to herein or therein:

     (i) the reasonable fees, expenses and disbursements of (A) Shipman &
Goodwin LLP, special counsel for Loan Trustee, Subordination Agent and Pass Through
Trustees, (B) Richards, Layton & Finger, P.A., special Delaware counsel for
Pass Through Trustees and Company, and (C) Daugherty, Fowler, Peregrin,
Haught & Jenson, a Professional Corporation, special FAA counsel in Oklahoma City,
Oklahoma, in each case to the extent actually incurred; and

     (ii) all reasonable expenses actually incurred in connection with printing and
document production or reproduction expenses, and in connection with the filing of
Uniform Commercial Code financing statements.

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     (b) Continuing Registration and Re-Registration. Loan Trustee, Noteholders,
Subordination Agent and each Pass Through Trustee agree to execute and deliver, at
Company’s expense, all such documents and consents as Company reasonably requests for the
purpose of continuing the registration of the Aircraft at the FAA in Company’s name or for
the purpose of registering or maintaining any registration on the International Registry in
respect of the Aircraft. In addition, each of Loan Trustee, Subordination Agent, each Pass
Through Trustee and any other Noteholder agrees, for the benefit of Company, to cooperate
with Company in effecting any foreign registration of the Aircraft pursuant to Section
7.02(e) of the Indenture; provided that prior to any such change in the country of
registry of the Aircraft the conditions set forth in Section 7.02(e) of the Indenture are
met to the reasonable satisfaction of, or waived by, Loan Trustee.

     (c) Quiet Enjoyment. Each of U.S. Bank, Loan Trustee, Subordination Agent,
each Pass Through Trustee, any other Noteholder, Class A Liquidity Provider (by having
entered into the Class A Liquidity Facility) and Class B Liquidity Provider (by having
entered into the Class B Liquidity Facility) agrees that, unless an Event of Default shall
have occurred and be continuing, it shall not (and shall not permit any Affiliate or other
Person claiming by, through or under it to) take any action contrary to, or otherwise in
any way interfere with or disturb (and then only in accordance with the Indenture), the
quiet enjoyment of the use and possession of the Aircraft, the Airframe, any Engine or any
Part by Company or any transferee of any interest in any thereof permitted under the
Indenture.

     (d) No Noteholder Liens. Each Noteholder, including, without limitation,
Subordination Agent and each Pass Through Trustee, unconditionally agrees with and for the
benefit of the parties to this Agreement that it will not directly or indirectly create,
incur, assume or suffer to exist any Noteholder Liens, and such Noteholder agrees that it
will, at its own cost and expense, promptly take such action as may be necessary to
discharge and satisfy in full any such Noteholder Lien; and each Noteholder hereby agrees
to indemnify, protect, defend and hold harmless each Indemnitee and Company against claims
in any way resulting from or arising out of a breach by it of its obligations under this
Section 6.01(d).

     (e) Agreement to be Bound; Transfer. By its acceptance of its Equipment
Notes, each Noteholder unconditionally agrees for the benefit of Company and Loan Trustee:
(i) to be bound by and to perform and comply with all of the terms of such
Equipment Notes, the Indenture and this Agreement applicable to such Noteholder and
(ii) that it will not transfer any Equipment Note (or any part thereof) to any
entity unless such transfer complies with and does not violate the Transportation Code, the
Securities Act (or require registration under

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such Act) or any other law (including, without limitation, ERISA), and does not create
a relationship that would be in violation thereof, or result in a “prohibited transaction”
under Section 4975 of the Code or require qualification of an indenture under the Trust
Indenture Act.

     (f) Tax Returns. Each Pass Through Trustee shall file any tax returns
required to be filed by the related Pass Through Trust and the Company shall pay the
Applicable Portion of any expenses relating thereto. The Company shall be responsible for
the Applicable Portion of any interest or penalties related to any Pass Through Trustee’s
failure to file any such tax returns required to be filed by the relevant Pass Through
Trust, except to the extent that such failure is attributable to the gross negligence or
willful misconduct of such Pass Through Trustee. For purposes of this Section 6.01(f), the
“Applicable Portion” of any amount shall equal such amount multiplied by a
fraction, the numerator of which shall be the sum of the then outstanding aggregate
principal amount of the Equipment Notes held by the relevant Pass Through Trustee, and the
denominator of which shall be the sum of the outstanding aggregate principal amount of all
“Equipment Notes” issued under each of the “Indentures” (in each case as defined in the
Intercreditor Agreement) held by such Pass Through Trustee.

     (g) No Petition. Each of Company, Loan Trustee, each Pass Through Trustee,
Subordination Agent and any other Noteholder covenants that (i) until one year and
one day after the Series A Equipment Notes have been paid in full, it shall not acquiesce,
petition or otherwise invoke or cause or join in invoking or causing the Class A Pass
Through Trust or any other Person to invoke the process of any governmental authority for
the purpose of commencing or sustaining a case (whether voluntary or not) against the Class
A Pass Through Trust under any bankruptcy, insolvency or similar law or appointing a
receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official
of the Class A Pass Through Trust or any substantial part of its property or ordering the
winding-up or liquidation of the affairs of the Class A Pass Through Trust, (ii)
until one year and one day after the Series B Equipment Notes have been paid in full, it
shall not acquiesce, petition or otherwise invoke or cause or join in invoking or causing
the Class B Pass Through Trust or any other Person to invoke the process of any
governmental authority for the purpose of commencing or sustaining a case (whether
voluntary or not) against the Class B Pass Through Trust under any bankruptcy, insolvency
or similar law or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of the Class B Pass Through Trust or any substantial
part of its property or ordering the winding-up or liquidation of the affairs of the Class
B Pass Through Trust, and (iii) with respect to any Additional Series Equipment
Notes, until one year and one day after such Additional Series Equipment Notes have been
paid in full, it shall not acquiesce, petition or otherwise invoke or cause or join in
invoking or causing the

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Additional Series Pass Through Trust or any other Person to invoke the process of any
governmental authority for the purpose of commencing or sustaining a case (whether
voluntary or not) against such Additional Series Pass Through Trust under any bankruptcy,
insolvency or similar law or appointing a receiver, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of such Additional Series Pass Through
Trust or any substantial part of its property or ordering the winding-up or liquidation of
the affairs of such Additional Series Pass Through Trust.

     Section 6.02. Certain Covenants of Company. Company covenants and agrees with Loan
Trustee as follows:

     (a) Further Assurances. On and after the Closing, Company will cause to be
done, executed, acknowledged and delivered such further acts, conveyances and assurances as
Loan Trustee reasonably requests for accomplishing the purposes of this Agreement and the
other Operative Documents; provided that any instrument or other document so
executed by Company will not expand any obligations or limit any rights of Company in
respect of the transactions contemplated by the Operative Documents.

     (b) Filing and Recordation of the Indenture; Registration of International
Interests. Company, at its expense, will cause the Indenture (with the Indenture
Supplement covering the Aircraft attached) to be promptly filed and recorded, or filed for
recording, with the FAA to the extent permitted under the Transportation Code and the rules
and regulations of the FAA thereunder. In addition, on or prior to the Closing Date,
Company will cause the registration of the International Interests (or Prospective
International Interests) created under the Indenture (as supplemented by the Indenture
Supplement with respect to the Aircraft) to be effected on the International Registry in
accordance with the Cape Town Treaty, and shall, as and to the extent applicable, consent
to such registration upon the issuance of a request for such consent by the International
Registry.

     (c) Maintenance of Filings. Company, at its expense, will take, or cause to
be taken, such action with respect to the recording, filing, re-recording and refiling of
the Indenture and any financing statements or other instruments as are necessary to
maintain, so long as the Indenture is in effect, the perfection of the security interests
created by the Indenture or will furnish Loan Trustee timely notice of the necessity of
such action, together with such instruments, in execution form, and such other information
as may be required to enable Loan Trustee to take such action. In addition, Company will
pay any and all recording, stamp and other similar taxes payable in the United States, and
in any other jurisdiction where the Aircraft is registered, in connection with the
execution, delivery, recording, filing, re-recording and refiling of the Indenture or any
such financing

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statements or other instruments. Company will notify Loan Trustee of any change in its
jurisdiction of organization (as such term is used in Article 9 of the Uniform Commercial
Code as in effect in the State of Delaware) promptly after making such change or in any
event within the period of time necessary under applicable law to prevent the lapse of
perfection (absent refiling) of financing statements filed under the Operative Documents.

     (d) Maintenance of Corporate Existence. Company shall at all times maintain
its corporate existence except as permitted by Subsection 6.02(e).

     (e) Merger; Consolidation; Transfer of Substantially All Assets. Company shall
not consolidate with or merge into any other Person or convey, transfer or lease
substantially all of its assets as an entirety to any Person, unless:

     (i) the successor or transferee entity shall, if and to the extent required
under Section 1110 in order that Loan Trustee continues to be entitled to any
benefits of Section 1110 with respect to the Aircraft, be a Citizen of the United
States and a Certificated Air Carrier and shall execute and deliver to Loan Trustee
an agreement containing the express assumption by such successor or transferee
entity of the due and punctual performance and observance of each covenant and
condition of the Operative Documents to which Company is a party to be performed or
observed by Company;

     (ii) if the Aircraft is, at the time, registered with the FAA or such Person
is located in a “Contracting State” (as such term is used in the Cape Town Treaty),
such Person makes such filings and recordings with the FAA pursuant to the Act and
registration under the Cape Town Treaty, or if the Aircraft is, at the time, not
registered with the FAA, such Person makes such filings and recordings with the
applicable aviation authority, as are necessary to evidence such consolidation,
merger, conveyance, transfer or lease;

     (iii) immediately after giving effect to such transaction, no Event of Default
shall have occurred and be continuing; and

     (iv) Company shall deliver to Loan Trustee and each Liquidity Provider a
certificate signed by a Responsible Officer of Company, and an opinion of counsel
(which may be the general counsel, a deputy general counsel or an associate general
counsel to Company), each stating that such consolidation, merger, conveyance,
transfer or lease and the assumption agreement mentioned in clause (i) above comply
with this Subsection 6.02(e) and that all conditions precedent herein relating to
such transaction have been complied with (except that such opinion need not

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cover the matters referred to in clause (iii) above and may rely, as to
factual matters, on a certificate of an officer of Company) and, in the case of
such opinion, that such assumption agreement has been duly authorized, executed and
delivered by such successor Person and is enforceable against such successor Person
in accordance with its terms, except as the same may be limited by bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting the rights
of creditors generally and by general principles of equity.

     Upon any consolidation or merger, or any conveyance, transfer or lease of
substantially all of the assets of Company as an entirety in accordance with this
Subsection 6.02(e), the successor Person formed by such consolidation or into which Company
is merged or to which such conveyance, transfer or lease is made shall succeed to, and be
substituted for, and may exercise every right and power of, Company under this Agreement
and the other Operative Documents with the same effect as if such successor Person had been
named as Company herein.

     (f) Section 1110. Company shall remain a Certificated Air Carrier for as long
as and to the extent required under Section 1110 in order that Loan Trustee shall be
entitled to any of the benefits of Section 1110 with respect to the Aircraft.

     (g) Additional Information. Promptly after the occurrence of a Triggering
Event or an Indenture Event of Default resulting from the failure of Company to make
payments on any Equipment Note and on every Regular Distribution Date while the Triggering
Event or such Indenture Event of Default shall be continuing, 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 the Aircraft if then subject to the lien of the
Indenture: (A) whether the Aircraft is currently in service or parked in storage,
(B) the maintenance status of the Aircraft, and (C) the location of the
Engines. As used in this Section 6.02(g), the terms “Triggering Event”, “Indenture Event
of Default” and “Regular Distribution Date” shall have the respective meanings set forth in
the Intercreditor Agreement.

ARTICLE 7

MISCELLANEOUS

     Section 7.01. Notices. Unless otherwise expressly specified or permitted by the terms
hereof, all notices required or permitted under the terms and provisions of this Agreement shall be
in English and in writing, and any such notice may be given by United States mail, courier service
or facsimile, and any such notice shall be effective

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when delivered (or, if mailed, three Business Days after deposit, postage prepaid, in the
first class United States mail, and if delivered by facsimile, upon completion of transmission and
confirmation by the sender (by a telephone call to a representative of the recipient or by machine
confirmation) that such transmission was received) addressed as follows:

     if to Company, addressed to:

Delta Air Lines, Inc.

1030 Delta Boulevard

Atlanta, Georgia 30354

Attention: Treasurer, Dept. 856

Telephone: (404) 715-6583

Facsimile: (404) 773-7345

with a copy to the General Counsel at the same address, but Dept. 971

Telephone: (404) 715-7820

Facsimile: (404) 715-7882

     if to any Pass Through Trustee, addressed to:

U.S. Bank Trust National Association

300 Delaware Avenue, 9th Floor

Mail Code EX-DE-WDAW

Wilmington, Delaware 19801

Attention: Corporate Trust Services

Ref.: Delta 2009-1 EETC

Telephone: (302) 576-3703

Facsimile: (302) 576-3717

with a copy to:

U.S. Bank Trust National Association

One Federal Street

EX-MA-FED, 3rd Floor

Boston, Massachusetts 02110

Attention: Corporate Trust Services

Ref.: Delta 2009-1 EETC

Telephone: (617) 603-6553

Facsimile: (617) 603-6683

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     if to U.S. Bank, Loan Trustee or Subordination Agent, addressed to:

U.S. Bank Trust National Association

One Federal Street, 3rd Floor

Boston, Massachusetts 02110

Attention: Corporate Trust Administration

Ref.: Delta 2009-1 EETC

Telephone: (617) 603-6553

Facsimile: (617) 603-6683

or if to any subsequent Noteholder, addressed to such Noteholder at its address set forth in the
Equipment Note Register maintained pursuant to Section 2.07 of the Indenture.

     Any party, by notice to the other parties hereto, may designate different addresses for
subsequent notices or communications. Whenever the words “notice” or “notify” or similar words are
used herein, they mean the provision of formal notice as set forth in this Section 7.01.

     Section 7.02. Survival of Representations, Warranties, Indemnities, Covenants and
Agreements. Except as otherwise provided herein, the representations, warranties, indemnities,
covenants and agreements of Company, U.S. Bank, Loan Trustee, Subordination Agent, each Pass
Through Trustee and Noteholders herein, and each of their obligations hereunder, shall survive the
making of the loans, the transfer of any interest by any Noteholder of its Equipment Note and the
expiration or termination (to the extent arising out of acts or events occurring prior to such
expiration) of any Operative Documents.

     Section 7.03. Governing Law. THIS AGREEMENT HAS BEEN DELIVERED IN THE STATE OF NEW
YORK AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK,
INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE.

     Section 7.04. Severability. To the extent permitted by applicable law, any provision
of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

     Section 7.05. No Oral Modifications or Continuing Waivers; Consents. Subject to
Section 9.03 of the Indenture, no terms or provisions of this Agreement may be

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changed, waived, discharged or terminated orally, but only by an instrument in writing signed
by the party against which the enforcement of the change, waiver, discharge or termination is
sought. No such change, waiver, discharge or termination shall be effective unless a signed copy
thereof is delivered to Loan Trustee.

     Section 7.06. Effect of Headings and Table of Contents. The headings of the various
Articles and Sections herein and in the Table of Contents are for convenience of reference only and
do not define or limit any of the terms or provisions hereof.

     Section 7.07. Successors and Assigns. All covenants, agreements, representations and
warranties in this Agreement by Company, by U.S. Bank, individually or as Loan Trustee,
Subordination Agent or Pass Through Trustee, or by any Noteholder, shall bind and inure to the
benefit of and be enforceable by Company, and subject to the terms of Section 6.02(e), its
successors and permitted assigns, each Pass Through Trustee and any successor or other trustee
under the Pass Through Trust Agreement to which it is a party, Subordination Agent and its
successor under the Intercreditor Agreement and Loan Trustee and its successor under the Indenture,
whether so expressed or not.

     Section 7.08. Benefits of Agreement. Subject to the next sentence, nothing in this
Agreement, express or implied, gives to any Person, other than the parties hereto and their
successors hereunder, any benefit or any legal or equitable right, remedy or claim under this
Agreement, except as expressly provided herein. Company agrees and acknowledges that each Liquidity
Provider, and each separate or additional trustee appointed pursuant to Section 8.02 of the
Indenture shall be third party beneficiaries of the covenants and agreements of Company with
respect to the indemnities contained in Section 4.02 and may rely on the covenants and agreements
of Company with respect to such indemnities to the same extent as if the covenants and agreements
of Company with respect to such indemnities were made to each Liquidity Provider directly.

     Section 7.09. Counterparts. This Agreement may be executed in any number of
counterparts. Each of the parties hereto shall not be required to execute the same counterpart.
Each counterpart of this Agreement including a signature page or pages executed by each of the
parties hereto shall be an original counterpart of this Agreement, but all of such counterparts
shall together constitute one instrument.

     Section 7.10. Submission to Jurisdiction. Each of the parties hereto, to the extent
it may do so under applicable law, for purposes hereof and of all other Operative Documents hereby
(a) irrevocably submits itself to the non-exclusive jurisdiction of the courts of the State
of New York sitting in the City of New York and to the non-exclusive jurisdiction of the United
States District Court for the Southern District of New York, for the purposes of any suit, action
or other proceeding arising out of this Agreement, the subject matter hereof or any of the
transactions contemplated hereby brought by any party or parties hereto or thereto, or their
successors or permitted assigns and (b) waives, and agrees not to assert, by way of motion,
as a defense, or otherwise, in any such suit,

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action or proceeding, that the suit, action or proceeding is brought in an inconvenient forum,
that the venue of the suit, action or proceeding is improper or that this Agreement or the subject
matter hereof or any of the transactions contemplated hereby may not be enforced in or by such
courts.

     Section 7.11. 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, including, without limitation, making or consenting to registrations (or discharges
thereof, as appropriate) with respect to the Indenture on the International Registry and appointing
Daugherty, Fowler, Peregrin, Haught & Jenson, a Professional Corporation, as its “professional user
entity” (as defined in the Cape Town Treaty) to make or consent to any registrations (or discharges
thereof, as appropriate) on the International Registry with respect to the Airframe or any Engine,
in any case, as any other party hereto shall reasonably request in connection with the
administration of, or to carry out more effectively the purposes of, or to better assure and
confirm into such other party the rights and benefits to be provided under this Agreement, the
other Operative Documents and the Pass Through Documents.

     Section 7.12. Section 1110. It is the intention of each of Company, Noteholders (such
intention being evidenced by each of their acceptance of an Equipment Note), Loan Trustee and other
parties hereto that the security interest created by the Indenture, to the fullest extent available
under applicable law, entitles the Loan Trustee, on behalf of the Noteholders, to all of the
benefits of Section 1110 with respect to the Aircraft, Airframe, Engines and Parts.

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

	 	 	 	 	 
	 	DELTA AIR LINES, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, 

as Pass Through Trustee under each of 

the Pass Through Trust Agreements

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION, 

as Subordination Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION,

as Loan Trustee 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page

Participation Agreement (2009-1 EETC)

[Reg. No.]

 

 

	 	 	 	 	 
	 	U.S. BANK TRUST NATIONAL ASSOCIATION,

in its individual capacity as set forth herein

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

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[Reg. No.]

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SCHEDULE I to

PARTICIPATION AGREEMENT

EQUIPMENT NOTES,

PURCHASERS AND ORIGINAL PRINCIPAL AMOUNTS

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Interest	 	Original Principal
	Purchaser	 	Description of Equipment Notes	 	Maturity	 	Rate	 	Amount3
	Delta Air Lines Pass Through
	 	Series
2009-1A-[_____]4
[Reg. No.] Equipment Note[s]
	 	December 17, 2019
	 	 	7.75	%	 	 
	Trust 2009-1A

	 		 		 	 			 	 
	 
	 	 	 	 	 	 	 	 	 	 
	Delta Air Lines Pass Through
	 	Series
2009-1B-[_____]5
[Reg. No.] Equipment Note[s]
	 	December 17, 2016
	 	 	9.75	%	 	 
	Trust 2009-1B

	 		 		 	 			 	 

 

			
	3	 	For each Series, to insert the amount set forth for
such Series in the line captioned “At Issuance” in the “Equipment Note Ending
Balance” column for such Series relating to the relevant aircraft in Appendix V
to the Prospectus relating to Delta Pass Through Certificates, Series 2009-1.
	 
	4	 	To insert numbers 001-27 depending on the applicable
aircraft.
	 
	5	 	To insert numbers 001-27 depending on the applicable
aircraft.

Participation Agreement (2009-1 EETC)

[Reg. No.]

 

 

SCHEDULE II to

PARTICIPATION AGREEMENT

TRUST SUPPLEMENTS

     Trust Supplement No. 2009-1A, dated as of the Issuance Date, between Company and Pass Through
Trustee in respect of Delta Air Lines Pass Through Trust 2009-1A.

     Trust Supplement No. 2009-1B, dated as of the Issuance Date, between Company and Pass Through
Trustee in respect of Delta Air Lines Pass Through Trust 2009-1B.

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[Reg. No.]

 

 

Annex A to

Participation Agreement and

Indenture and Security Agreement

([REG. NO.])

DEFINITIONS

([REG. NO.])

     “Additional Insureds” has the meaning specified in Section 7.06(a) of the Indenture.

     “Additional Series” or “Additional Series Equipment Notes” means Equipment
Notes issued under the Indenture and designated as one series (and only one outstanding series at
any time) (other than “Series A” or “Series B”) thereunder, in the principal amount and maturities
and bearing interest as specified in Schedule I to the Indenture amended at the time of original
issuance of such Additional Series under the heading for such series.

     “Additional Series Pass Through Certificates” means the pass through certificates
issued pursuant to any Additional Series Pass Through Trust Agreement.

     “Additional Series Pass Through Trust” means a grantor trust created to facilitate the
issuance and sale of pass through certificates in connection with the issuance of any Additional
Series Equipment Notes.

     “Additional Series Pass Through Trust Agreement” means a Trust Supplement entered into
in connection with the creation of an Additional Series Pass Through Trust, together with the Basic
Pass Through Trust Agreement, as the same may be amended, supplemented or otherwise modified from
time to time in accordance with its terms.

     “Additional Series Pass Through Trustee” means U.S. Bank Trust National Association,
in its capacity as trustee under an Additional Series Pass Through Trust Agreement, or any
successor trustee thereto.

     “Affiliate” means with respect to any Person, any other Person directly or indirectly
controlling, controlled by or under common control with such Person. For the purposes of this
definition, “control” (including “controlled by” and “under common control with”) shall mean the
power, directly or indirectly, to direct or cause the direction of the management and policies of
such Person whether through the ownership of voting securities or by contract or otherwise. In no
event shall U.S. Bank be deemed to be an Affiliate of Loan Trustee or vice versa.

     “After-Tax Basis” means that indemnity and compensation payments required to be made
on such basis will be supplemented by the Person paying the base amount by that amount which, when
added to such base amount, and after deduction of all Federal,

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[Reg. No.]

 

 

state, local and foreign Taxes required to be paid by or on behalf of the payee with respect
of the receipt or realization of the base amount and any such supplemental amounts, and after
consideration of any current tax savings of such payee resulting by way of any deduction, credit or
other tax benefit actually and currently realized that is attributable to such base amount or Tax,
shall net such payee the full amount of such base amount.

     “Agreement” and “Participation Agreement” mean that certain Participation
Agreement ([REG. NO.]), dated on or before the Closing Date, among Company, U.S. Bank, Pass Through
Trustee under each Pass Through Trust Agreement, Subordination Agent and Loan Trustee, as the same
may be amended, supplemented or otherwise modified from time to time in accordance with its terms.

     “Aircraft” means the Airframe (or any Replacement Airframe substituted therefor
pursuant to Section 7.05 of the Indenture) together with the two Engines described in the Indenture
Supplement originally executed and delivered under the Indenture (or any Replacement Engine that
may from time to time be substituted for any of such Engines pursuant to Section 7.04 or Section
7.05 of the Indenture), whether or not any of such initial or substituted Engines is from time to
time installed on such Airframe or installed on any other airframe or on any other aircraft. The
term “Aircraft” includes any Replacement Aircraft.

     “Aircraft Protocol” means the official English language text of the Protocol to the
Convention on International Interests in Mobile Equipment on Matters Specific to Aircraft
Equipment, adopted on November 16, 2001, at a diplomatic conference in Cape Town, South Africa, and
all amendments, supplements, and revisions thereto (and from and after the effective date of the
Cape Town Treaty in the relevant country, means when referring to the Aircraft Protocol with
respect to that country, the Aircraft Protocol as in effect in such country, unless otherwise
indicated).

     “Airframe” means (a) the Boeing [Model] (generic model [Generic Model])
aircraft (except (i) the Engines or engines from time to time installed thereon and any and
all Parts related to such Engine or engines and (ii) Excluded Equipment) specified on Annex
A to the Indenture Supplement originally executed and delivered under the Indenture and (b)
any and all related Parts. The term “Airframe” includes any Replacement Airframe that is
substituted for the Airframe pursuant to Section 7.05 of the Indenture. At such time as any
Replacement Airframe is so substituted and the Airframe for which such substitution is made is
released from the Lien of the Indenture, such replaced Airframe shall cease to be an Airframe under
the Indenture.

     “Bankruptcy Code” means the United States Bankruptcy Code, 11 United States Code §§101
et seq., as amended from time to time, or any successor statutes thereto.

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[Reg. No.]

 

 

     “Basic Pass Through Trust Agreement” means that certain Pass Through Trust Agreement,
dated as of November 16, 2000, between Company and U.S. Bank (as successor in interest to State
Street Bank and Trust Company of Connecticut, National Association), as the same may be amended,
supplemented or otherwise modified from time to time in accordance with its terms (but does not
include any Trust Supplement).

     “Business Day” means any day other than a Saturday, a Sunday or a day on which
commercial banks are required or authorized to close in New York, New York, Atlanta, Georgia,
Boston, Massachusetts, Wilmington, Delaware or, if different from the foregoing, the city and state
in which Loan Trustee, the Pass Through Trustee or Subordination Agent maintains its Corporate
Trust Office or receives and disburses funds.

     “Cape Town Convention” means the official English language text of the Convention on
International Interests in Mobile Equipment, adopted on November 16, 2001, at a diplomatic
conference in Cape Town, South Africa, and all amendments, supplements, and revisions thereto (and
from and after the effective date of the Cape Town Treaty in the relevant country, means when
referring to the Cape Town Convention with respect to that country, the Cape Town Convention as in
effect in such country, unless otherwise indicated).

     “Cape Town Treaty” means, collectively, the official English language text of
(a) the Convention on International Interests in Mobile Equipment, and (b) the
Protocol to the Convention on International Interests in Mobile Equipment on Matters Specific to
Aircraft Equipment, in each case adopted on November 16, 2001, at a diplomatic conference in Cape
Town, South Africa, and from and after the effective date of the Cape Town Treaty in the relevant
country, means when referring to the Cape Town Treaty with respect to that country, the Cape Town
Treaty as in effect in such country, unless otherwise indicated, and (c) all rules and
regulations adopted pursuant thereto and, in the case of each of the foregoing described in clauses
(a) through (c), all amendments, supplements, and revisions thereto.

     “Certificated Air Carrier” means a Citizen of the United States holding an air carrier
operating certificate issued by the Secretary of Transportation pursuant to Chapter 447 of Title 49
of the United States Code for aircraft capable of carrying ten or more individuals or 6,000 pounds
or more of cargo or that otherwise is certified or registered to the extent required to fall within
the purview of Section 1110.

     “Citizen of the United States” has the meaning specified for such term in Section
40102(a)(15) of Title 49 of the United States Code or any similar legislation of the United States
enacted in substitution or replacement therefor.

     “Claim” has the meaning specified in Section 4.02(a) of the Participation Agreement.

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[Reg. No.]

 

 

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

     “Class A Liquidity Facility” has the meaning set forth in the Intercreditor Agreement.

     “Class A Liquidity Provider” has the meaning set forth in the Intercreditor Agreement.

     “Class A Pass Through Trust” means the Delta Air Lines Pass Through Trust 2009-1A
created pursuant to the Basic Pass Through Trust Agreement, as supplemented by Trust Supplement No.
2009-1A, dated as of the Issuance Date, between Company and U.S. Bank, as Class A Trustee.

     “Class A Trustee” means the trustee for the Class A Pass Through Trust.

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

     “Class B Liquidity Facility” has the meaning set forth in the Intercreditor Agreement.

     “Class B Liquidity Provider” has the meaning set forth in the Intercreditor Agreement.

     “Class B Pass Through Trust” means the Delta Air Lines Pass Through Trust 2009-1B
created pursuant to the Basic Pass Through Trust Agreement, as supplemented by Trust Supplement No.
2009-1B, dated as of the Issuance Date, between Company and U.S. Bank, as Class B Trustee.

     “Class B Trustee” means the trustee for the Class B Pass Through Trust.

     “Closing” has the meaning specified in Section 2.03 of the Participation Agreement.

     “Closing Date” means the date of the closing of the transaction contemplated by the
Operative Documents.

     “Code” means the Internal Revenue Code of 1986, as amended from time to time.

     “Collateral” has the meaning specified in the granting clause of the Indenture.

     “Company” means Delta Air Lines, Inc., and its successors and permitted assigns.

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[Reg. No.]

 

 

     “Compulsory Acquisition” means requisition of title or other compulsory acquisition,
capture, seizure, deprivation, confiscation or detention for any reason of the Aircraft by any
government that results in the loss of title or use of the Aircraft by Company (or any Permitted
Lessee) for a period in excess of 180 consecutive days, but shall exclude requisition for use or
hire not involving requisition of title.

     “Confidential Information” has the meaning specified in Section 10.16 of the
Indenture.

     “Controlling Party” has the meaning specified in Section 2.06 of the Intercreditor
Agreement.

     “Corporate Trust Office” has the meaning specified in Section 1.01 of the
Intercreditor Agreement.

     “CRAF Program” means the Civil Reserve Air Fleet Program authorized under 10 U.S.C.
Section 9511 et seq. or any similar or substitute program under the laws of the United States.

     “Debt Rate” means, with respect to any Series of Equipment Notes, (i) the rate
per annum specified for the applicable Series as such in Schedule I to the Indenture (as amended,
in the case of any Additional Series, at the time of original issuance of such Additional Series),
and (ii) for any other purpose, with respect to any period, the weighted average interest
rate per annum during such period borne by the outstanding Equipment Notes, excluding any interest
payable at the Past Due Rate.

     “Defaulted Operative Indenture” means any Operative Indenture (the terms “Event of
Default”, “Equipment Notes” and “Payment Default” used in this definition have the meanings
specified therefor in such Operative Indenture) with respect to which (i) a Payment Default
has occurred and is continuing or an Event of Default described in Section 4.01(a) of such
Operative Indenture has occurred and is continuing or (ii) an Event of Default other than
an Event of Default described in Section 4.01(a) of such Operative Indenture has occurred and is
continuing and, in any such case, either (x) the Equipment Notes issued thereunder have
been accelerated and such acceleration has not been rescinded and annulled in accordance therewith
or (y) the loan trustee under such Operative Indenture has given Company a notice of its
intention to exercise one or more of the remedies specified in Section 4.02(a) of such Operative
Indenture; provided that in the event of a bankruptcy proceeding under the Bankruptcy Code
under which Company is a debtor, if and so long as the trustee or the debtor agrees to perform and
performs all obligations of Company under such Operative Indenture and the Equipment Notes issued
thereunder in accordance with Section 1110(a)(2) of the Bankruptcy Code and cures defaults under
such Operative Indentures and Equipment Notes to the extent required by Section 1110(a)(2) of the
Bankruptcy Code, such Operative Indenture shall not be a Defaulted Operative Indenture.

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     “Department of Transportation” means the United States Department of Transportation
and any agency or instrumentality of the United States government succeeding to its functions.

     “Deposit Agreement” means, subject to Section 5(f) of the Note Purchase Agreement,
each of the two Deposit Agreements, dated as of the Issuance Date, between Escrow Agent and
Depositary, which relate to the Class A or Class B Pass Through Trust, respectively;
provided that, for purposes of any obligation of Company, no amendment, modification or
supplement to, or substitution or replacement of, any such Deposit Agreement shall be effective
unless consented to by Company.

     “Depositary” means, subject to Section 5(f) of the Note Purchase Agreement, The Bank
of New York Mellon, a New York banking corporation, as Depositary under each Deposit Agreement.

     “Direction” has the meaning specified in Section 2.16 of the Indenture.

     “Dollars” and “$” mean the lawful currency of the United States.

     “Eligible Account” means an account established by and with an Eligible Institution at
the request of Loan Trustee, which institution agrees, for all purposes of the UCC including
Article 8 thereof, that (a) such account shall be a “securities account” (as defined in
Section 8-501(a) of the NY UCC), (b) such institution is a “securities intermediary” (as
defined in Section 8-102(a)(14) of the NY UCC), (c) all property (other than cash) credited
to such account shall be treated as a “financial asset” (as defined in Section 8-102(a)(9) of the
NY UCC), (d) Loan Trustee shall be the “entitlement holder” (as defined in Section
8-102(a)(7) of the NY UCC) in respect of such account, (e) it will comply with all
entitlement orders issued by Loan Trustee to the exclusion of Company, (f) it will waive or
subordinate in favor of Loan Trustee all claims (including, without limitation, claims by way of
security interest, lien or right of set-off or right of recoupment), and (g) the “securities
intermediary jurisdiction” (under Section 8-110(e) of the NY UCC) shall be the State of New York.

     “Eligible Institution” means the corporate trust department of (a) U.S. Bank
or any other Person that becomes a successor Loan Trustee under the Indenture, in each case, acting
solely in its capacity as a “securities intermediary” (as defined in Section 8-102(a)(14) of the NY
UCC), or (b) a depository institution organized under the laws of the United States of
America or any one of the states thereof or the District of Columbia (or any U.S. branch of a
foreign bank), which has a Long-Term Rating from Moody’s of at least A3 (or its equivalent) and A
(or its equivalent) from S&P.

     “Engine” means (a) each of the two [Engine Manufacturer Model] engines
(generic manufacturer and model [Generic Manufacturer and Model]), listed by manufacturer’s serial
number and further described on Annex A to the Indenture

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Supplement originally executed and delivered under the Indenture, whether or not from time to
time installed on the Airframe or installed on any other airframe or on any other aircraft and
(b) any Replacement Engine substituted for an Engine pursuant to Section 7.04 or 7.05 of
the Indenture; together in each case with any and all related Parts but excluding Excluded
Equipment. At such time as a Replacement Engine is so substituted and the Engine for which
substitution is made is released from the Lien of the Indenture, such replaced Engine shall cease
to be an Engine under the Indenture.

     “Equipment Note” means and includes any equipment notes issued under the Indenture in
the form specified in Section 2.01 thereof (as such form may be varied pursuant to the terms of the
Indenture) and any Equipment Note issued in exchange therefor or replacement thereof pursuant to
Section 2.07 or 2.08 of the Indenture.

     “Equipment Note Register” has the meaning specified in Section 2.07 of the Indenture.

     “Equipment Note Registrar” has the meaning specified in Section 2.07 of the Indenture.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time, and the regulations promulgated and rulings issued thereunder. Section references to
ERISA are to ERISA as in effect at the date of the Participation Agreement and any subsequent
provisions of ERISA amendatory thereof, supplemental thereto or substituted therefor.

     “Escrow Agent” means U.S. Bank National Association, a national banking association,
as escrow agent under each Escrow Agreement, or any successor agent thereto.

     “Escrow Agreement” means each of the two Escrow and Paying Agent Agreements, dated as
of the Issuance Date, among Escrow Agent, Paying Agent, Underwriters and one of the Pass Through
Trustees, which relate to the Class A Pass Through Trust or the Class B Pass Through Trust;
provided that, for purposes of any obligation of Company, no amendment, modification or
supplement to, or substitution or replacement of, any Escrow Agreement shall be effective unless
consented to by Company.

     “Event of Default” has the meaning specified in Section 4.01 of the Indenture.

     “Event of Loss” means, with respect to the Aircraft, Airframe or any Engine, any of
the following events with respect to such property:

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     (a) the loss of such property or of the use thereof due to destruction, damage beyond repair
or rendition of such property permanently unfit for normal use for any reason whatsoever;

     (b) any damage to such property which results in an insurance settlement with respect to such
property on the basis of a total loss, a compromised total loss or a constructive total loss;

     (c) the theft, hijacking or disappearance of such property for a period in excess of 180
consecutive days;

     (d) the requisition for use or hire of such property by any government (other than a
requisition for use or hire by a Government or the government of the country of registry of the
Aircraft) that results in the loss of possession of such property by Company (or any Permitted
Lessee) for a period in excess of 12 consecutive months;

     (e) the operation or location of the Aircraft, while under requisition for use by any
government, in any area excluded from coverage by any insurance policy in effect with respect to
the Aircraft required by the terms of Section 7.06 of the Indenture, unless Company shall have
obtained indemnity or insurance in lieu thereof from such government;

     (f) any Compulsory Acquisition;

     (g) as a result of any law, rule, regulation, order or other action by the FAA or other
government of the country of registry, the use of the Aircraft or Airframe in the normal business
of air transportation is prohibited by virtue of a condition affecting all aircraft of the same
type for a period of 18 consecutive months, unless Company is diligently carrying forward all steps
that are necessary or desirable to permit the normal use of the Aircraft or Airframe or, in any
event, if such use is prohibited for a period of three consecutive years; and

     (h) with respect to an Engine only, any divestiture of title to or interest in an Engine or
any event with respect to an Engine that is deemed to be an Event of Loss with respect to such
Engine pursuant to Section 7.02(a)(vii) of the Indenture.

     An Event of Loss with respect to the Aircraft shall be deemed to have occurred if an Event of
Loss occurs with respect to the Airframe unless Company elects to substitute a Replacement Airframe
pursuant to Section 7.05(a)(i) of the Indenture.

     “Excluded Equipment” means (i) defibrillators, enhanced emergency medical kits
and other medical equipment, (ii) airphones and other components or systems installed on or
affixed to the Airframe that are used to provide individual telecommunications or electronic
entertainment to passengers aboard the Aircraft, (iii) galley carts, beverage

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carts, waste containers, liquor kits, food tray carriers, ice containers, oven inserts, galley
inserts, and other branded passenger convenience or service items, (iv) any items,
equipment or systems leased by Company or any Permitted Lessee (other than items, equipment, or
systems that are leased from Company pursuant to the applicable Lease) or owned by Company or any
Permitted Lessee subject to a conditional sales agreement or a security interest (other than the
security interest granted under the Indenture), and (v) cargo containers.

     “FAA” means the United States Federal Aviation Administration and any agency or
instrumentality of the United States government succeeding to its functions.

     “FAA Bill of Sale” means the bill of sale for the Aircraft on AC Form 8050-2 executed
by Manufacturer or an affiliate of Manufacturer in favor of Company and recorded with the FAA.

     “Federal Funds Rate” means a fluctuating interest rate per annum in effect from time
to time, which rate per annum shall at all times be equal to the weighted average of the rates on
overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal
funds brokers, as published for such day (or, if such day is not a Business Day, for the next
preceding Business Day) by the Federal Reserve Bank of New York, or if such rate is not so
published for any day that is a Business Day, the average of the quotations for such day for such
transactions received by U.S. Bank from three Federal funds brokers of recognized standing selected
by it.

     “Government” means the government of any of Canada, France, Germany, Japan, The
Netherlands, Sweden, Switzerland, the United Kingdom or the United States and any instrumentality
or agency thereof.

     “Indemnitee” has the meaning specified in Section 4.02(b) of the Participation
Agreement.

     “Indenture” means that certain Indenture and Security Agreement ([REG. NO.]), dated as
of the Closing Date, between Company and Loan Trustee, as the same may be amended, supplemented or
otherwise modified from time to time in accordance with its terms, including supplementation by an
Indenture Supplement pursuant to the Indenture.

     “Indenture Indemnitee” means (i) Loan Trustee, (ii) U.S. Bank,
(iii) each separate or successor or additional trustee appointed pursuant to Section 8.02
of the Indenture, (iv) so long as it holds any Equipment Notes or Related Equipment Notes
as agent and trustee of any Pass Through Trustee, Subordination Agent, (v) each Liquidity
Provider, (vi) so long as it is the holder of any Equipment Notes or Related Equipment
Notes, each Pass Through Trustee, (vii) Paying Agent, (viii) Escrow Agent, and
(ix) any of their respective successors and permitted assigns in such capacities,
directors, officers,

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employees, agents and servants. No holder of a Pass Through Certificate in its capacity as
such shall be an Indenture Indemnitee.

     “Indenture Supplement” means a supplement to the Indenture, substantially in the form
of Exhibit A to the Indenture, which particularly describes the Aircraft, and any Replacement
Airframe and/or Replacement Engine, included in the property subject to the Lien of the Indenture.

     “Insurance Threshold” is the amount set forth as the Insurance Threshold in Exhibit C
to the Indenture.

     “Intercreditor Agreement” means that certain Intercreditor Agreement, dated as of the
Issuance Date, among Pass Through Trustees, Liquidity Providers and Subordination Agent, as the
same may be amended, supplemented or otherwise modified from time to time in accordance with its
terms; provided that, for purposes of any obligations of Company, no amendment,
modification or supplement to, or substitution or replacement of, such Intercreditor Agreement
shall be effective unless consented to by Company.

     “Interests” has the meaning specified in Section 7.06(a) of the Indenture.

     “International Interest” has the meaning ascribed to the defined term “international
interest” under the Cape Town Treaty.

     “International Registry” means the international registry established pursuant to the
Cape Town Treaty.

     “Issuance Date” means November 24, 2009.

     “Lease” means any lease permitted by the terms of Section 7.02(a) of the Indenture.

     “Lien” means any mortgage, pledge, lien, encumbrance, lease, sublease, sub-sublease or
security interest.

     “Liquidity Facilities” means, collectively, the Class A Liquidity Facility and the
Class B Liquidity Facility.

     “Liquidity Providers” means, collectively, Class A Liquidity Provider and Class B
Liquidity Provider.

     “Loan Amount” has the meaning specified in Section 7.06(c) of the Indenture.

     “Loan Trustee” has the meaning specified in the introductory paragraph of the
Indenture.

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     “Loan Trustee Liens” means any Lien attributable to U.S. Bank or Loan Trustee with
respect to the Aircraft, any interest therein or any other portion of the Collateral arising as a
result of (i) claims against U.S. Bank or Loan Trustee not related to its interest in the
Aircraft or the administration of the Collateral pursuant to the Indenture, (ii) acts of
U.S. Bank or Loan Trustee not permitted by, or the failure of U.S. Bank or Loan Trustee to take any
action required by, the Operative Documents or the Pass Through Documents, (iii) claims
against U.S. Bank or Loan Trustee relating to Taxes or Claims that are excluded from the
indemnification provided by Section 4.02 of the Participation Agreement pursuant to said Section
4.02 or (iv) claims against U.S. Bank or Loan Trustee arising out of the transfer by any
such party of all or any portion of its interest in the Aircraft, the Collateral, the Operative
Documents or the Pass Through Documents, except while an Event of Default is continuing and prior
to the time that Loan Trustee has received all amounts due to it pursuant to the Indenture.

     “Long-Term Rating” has the meaning specified in the Intercreditor Agreement.

     “Loss Payment Date” has the meaning specified in Section 7.05(a) of the Indenture.

     “Majority in Interest of Noteholders” means, as of a particular date of determination
and subject to Section 2.16 of the Indenture, the holders of at least a majority in aggregate
unpaid principal amount of all Equipment Notes outstanding as of such date (excluding any Equipment
Notes held by Company or any Affiliate thereof, it being understood that a Pass Through Trustee
shall be considered an Affiliate of Company as long as more than 50% in the aggregate face amount
of Pass Through Certificates issued by the corresponding Pass Through Trust are held by Company or
an Affiliate of Company or a Pass Through Trustee is otherwise under the control of Company or such
Affiliate of Company (unless all Equipment Notes then outstanding are held by Company or any
Affiliate thereof, including Pass Through Trustees which are considered Affiliates of Company
pursuant hereto); provided that for the purposes of directing any action or casting any
vote or giving any consent, waiver or instruction hereunder, any Noteholder of an Equipment Note or
Equipment Notes may allocate, in such Noteholder’s sole discretion, any fractional portion of the
principal amount of such Equipment Note or Equipment Notes in favor of or in opposition to any such
action, vote, consent, waiver or instruction.

     “Make —Whole Amount” means, with respect to any Equipment Note, the amount (as
determined by an independent investment banker selected by Company (and, following the occurrence
and during the continuance of an Event of Default, reasonably acceptable to Loan Trustee)), if any,
by which (i) the present value of the remaining scheduled payments of principal and
interest from the redemption date to maturity of such Equipment Note computed by discounting each
such payment on a semiannual basis from its respective Payment Date (assuming a 360-day year of
twelve 30 day months) using a discount rate equal to the Treasury Yield plus the Make-Whole Spread
exceeds

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(ii) the outstanding principal amount of such Equipment Note plus accrued but unpaid
interest thereon to the date of redemption. For purposes of determining the Make-Whole Amount,
“Treasury Yield” means, at the date of determination, the interest rate (expressed as a
semiannual equivalent and as a decimal rounded to the number of decimal places as appears in the
Debt Rate of such Equipment Note and, in the case of United States Treasury bills, converted to a
bond equivalent yield) determined to be the per annum rate equal to the semiannual yield to
maturity for United States Treasury securities maturing on the Average Life Date and trading in the
public securities market either as determined by interpolation between the most recent weekly
average constant maturity, non-inflation-indexed series yield to maturity for two series of United
States Treasury securities, trading in the public securities markets, (A) one maturing as
close as possible to, but earlier than, the Average Life Date and (B) the other maturing as
close as possible to, but later than, the Average Life Date, in each case as reported in the most
recent H.15(519) or, if a weekly average constant maturity, non-inflation indexed series yield to
maturity for United States Treasury securities maturing on the Average Life Date is reported in the
most recent H.15(519), such weekly average yield to maturity as reported in such H.15(519).
“H.15(519)” means the weekly statistical release designated as such, or any successor
publication, published by the Board of Governors of the Federal Reserve System. The date of
determination of a Make-Whole Amount shall be the third Business Day prior to the applicable
redemption date and the “most recent H.15(519)” means the latest H.15(519) published prior
to the close of business on the third Business Day prior to the applicable redemption date.
“Average Life Date” means, for each Equipment Note to be redeemed, the date which follows
the redemption date by a period equal to the Remaining Weighted Average Life at the redemption date
of such Equipment Note. “Remaining Weighted Average Life” of an Equipment Note, at the
redemption date of such Equipment Note, means the number of days equal to the quotient obtained by
dividing: (i) the sum of the products obtained by multiplying (A) the amount of
each then remaining installment of principal, including the payment due on the maturity date of
such Equipment Note, by (B) the number of days from and including the redemption date to
but excluding the scheduled Payment Date of such principal installment by (ii) the then
unpaid principal amount of such Equipment Note.

     “Make-Whole Spread” means, with respect to any Series of Equipment Notes, the
percentage specified for the applicable Series as such in Schedule I to the Indenture (as amended,
in the case of any Additional Series, at the time of original issuance of such Additional Series).

     “Manufacturer” means The Boeing Company, a Delaware corporation, and its successors
and assigns.

     “Manufacturer’s Consent” means the Manufacturer’s Consent and Agreement to Assignment
of Warranties, dated as of the Closing Date, substantially in the form of Exhibit D to the
Participation Agreement.

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     “Minimum Insurance Amount” has the meaning specified in Section 7.06(a) of the
Indenture.

     “Moody’s” means Moody’s Investors Service, Inc.

     “Noteholder” means any Person in whose name an Equipment Note is registered on the
Equipment Note Register (including, for so long as it is the registered holder of any Equipment
Notes, Subordination Agent on behalf of Pass Through Trustees pursuant to the provisions of the
Intercreditor Agreement).

     “Noteholder Liens” means any Lien attributable to any Noteholder on or against the
Aircraft, any interest therein or any other portion of the Collateral, arising out of any claim
against such Noteholder that is not related to the Operative Documents or Pass Through Documents,
or out of any act or omission of such Noteholder that is not related to the transactions
contemplated by, or that constitutes a breach by such Noteholder of its obligations under, the
Operative Documents or the Pass Through Documents.

     “Note Purchase Agreement” means the Note Purchase Agreement, dated as of the Issuance
Date, among Company, Subordination Agent, Escrow Agent, Paying Agent and Pass Through Trustee under
each Pass Through Trust Agreement providing for, among other things, the issuance and sale of
certain equipment notes, as the same may be amended, supplemented or otherwise modified from time
to time in accordance with its terms.

     “NY UCC” means UCC as in effect in the State of New York.

     “Operative Documents” means, collectively, the Participation Agreement, the Indenture,
each Indenture Supplement, the Manufacturer’s Consent and the Equipment Notes.

     “Operative Indentures” means, as of any date, each “Indenture” (as such term is
defined in the Note Purchase Agreement), including the Indenture, whether any other “Indenture”
shall have been entered into before or after the date of the Indenture, but only if as of such date
all “Equipment Notes” (as defined in each such “Indenture”) are held by “Subordination Agent” under
the “Intercreditor Agreement”, as such terms are defined in each such “Indenture”.

     “Other Party Liens” means any Lien attributable to Pass Through Trustee (other than in
its capacity as Noteholder), Subordination Agent (other than in its capacity as Noteholder) or any
Liquidity Provider on or against the Aircraft, any interest therein, or any other portion of the
Collateral arising out of any claim against such party that is not related to the Operative
Documents or Pass Through Documents, or out of any act or omission of such party that is not
related to the transactions contemplated by, or that

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constitutes a breach by such party of its obligations under, the Operative Documents or the
Pass Through Documents.

     “Participation Agreement” has the meaning set forth under the definition of
“Agreement”.

     “Parts” means any and all appliances, parts, instruments, appurtenances, accessories,
furnishings and other equipment of whatever nature (other than (a) complete Engines or
engines and (b) Excluded Equipment), so long as the same are incorporated or installed in
or attached to the Airframe or any Engine or so long as the same are subject to the Lien of the
Indenture in accordance with the terms of Section 7.04 thereof after removal from the Airframe or
any Engine.

     “Pass Through Certificates” means the pass through certificates issued by Pass Through
Trustees (and any other pass through certificates for which such pass through certificates may be
exchanged).

     “Pass Through Documents” means the Pass Through Trust Agreements, the Note Purchase
Agreement, the Escrow Agreements, the Deposit Agreements, the Intercreditor Agreement and the
Liquidity Facilities.

     “Pass Through Trust” means each of the two separate grantor trusts created pursuant to
the Pass Through Trust Agreements to facilitate certain of the transactions contemplated by the
Operative Documents.

     “Pass Through Trust Agreement” means each of the two separate Trust Supplements
relating to the Pass Through Trusts, together in each case with the Basic Pass Through Trust
Agreement, as the same may be amended, supplemented or otherwise modified from time to time in
accordance with its terms.

     “Pass Through Trustee” has the meaning specified in the introductory paragraph to the
Participation Agreement.

     “Pass Through Trustees” means, collectively, Pass Through Trustees under each Pass
Through Trust Agreement.

     “Past Due Rate” means the lesser of (a) with respect to (i) any
payment made to a Noteholder under any Series of Equipment Notes, the Debt Rate then applicable to
such Series plus 1% and (ii) any other payment made under any Operative Document to any
other Person, the Debt Rate plus 1% (computed on the basis of a year of 360 days comprised of
twelve 30-day months) and (b) the maximum rate permitted by applicable law.

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     “Paying Agent” means U.S. Bank, as paying agent under each Escrow Agreement, and any
successor agent thereto.

     “Payment Date” means, for any Equipment Note, each June 17 and December 17, commencing
with [___]6.

     “Payment Default” means the occurrence of an event that would give rise to an Event of
Default under Section 4.01(a) of the Indenture upon the giving of notice or the passing of time or
both.

     “Permitted Investments” means each of (a) direct obligations of the United
States and agencies thereof; (b) obligations fully guaranteed by the United States;
(c) certificates of deposit issued by, or bankers’ acceptances of, or time deposits with,
any bank, trust company or national banking association incorporated or doing business under the
laws of the United States or one of the states thereof having combined capital and surplus and
retained earnings of at least $100,000,000 and having a Long-Term Rating of A, its equivalent or
better by Moody’s or S&P (or, if neither such organization then rates such institutions, by any
nationally recognized rating organization in the United States); (d) commercial paper of
any holding company of a bank, trust company or national banking association described in clause
(c); (e) commercial paper of companies having a Short-Term Rating assigned to such
commercial paper by either Moody’s or S&P (or, if neither such organization then rates such
commercial paper, by any nationally recognized rating organization in the United States) equal to
either of the two highest ratings assigned by such organization; (f) Dollar-denominated
certificates of deposit issued by, or time deposits with, the European subsidiaries of (i)
any bank, trust company or national banking association described in clause (c), or (ii)
any other bank or financial institution described in clause (g), (h) or (j) below; (g)
United States-issued Yankee certificates of deposit issued by, or bankers’ acceptances of, or
commercial paper issued by, any bank having combined capital and surplus and retained earnings of
at least $100,000,000 and headquartered in Canada, Japan, the United Kingdom, France, Germany,
Switzerland or The Netherlands and having a Long-Term Rating of A, its equivalent or better by
Moody’s or S&P (or, if neither such organization then rates such institutions, by any nationally
recognized rating organization in the United States); (h) Dollar-denominated time deposits
with any Canadian bank having a combined capital and surplus and retained earnings of at least
$100,000,000 and having a Long-Term Rating of A, its equivalent or better by Moody’s or S&P (or, if
neither such organization then rates such institutions, by any nationally recognized rating
organization in the United States); (i) Canadian Treasury Bills fully hedged to Dollars;
(j) repurchase agreements with any

 

			
	6	 	With respect to the Equipment Notes for the 2009
Aircraft (as defined in the Note Purchase Agreement), insert “June 17, 2010”
and with respect to the Equipment Notes for the 2000-1 Aircraft, insert the
first June 17 or December 17, as the case may be, to occur after the issuance
of such Equipment Notes.

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financial institution having combined capital and surplus and retained earnings of at least
$100,000,000 collateralized by transfer of possession of any of the obligations described in
clauses (a) through (i) above; (k) bonds, notes or other obligations of any state of the
United States, or any political subdivision of any state, or any agencies or other
instrumentalities of any such state, including, but not limited to, industrial development bonds,
pollution control revenue bonds, public power bonds, housing bonds, other revenue bonds or any
general obligation bonds, that, at the time of their purchase, such obligations have a Long-Term
Rating of A, its equivalent or better by Moody’s or S&P (or, if neither such organization then
rates such obligations, by any nationally recognized rating organization in the United States);
(1) bonds or other debt instruments of any company, if such bonds or other debt
instruments, at the time of their purchase, have a Long-Term Rating of A, its equivalent or better
by Moody’s or S&P (or, if neither such organization then rates such obligations, by any nationally
recognized rating organization in the United States); (m) mortgage backed securities
(i) guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage
Corporation or the Government National Mortgage Association or having a Long-Term Rating of AAA,
its equivalent or better by Moody’s or S&P (or, if neither such organization then rates such
obligations, by any nationally recognized rating organization in the United States) or, if unrated,
deemed to be of a comparable quality by Loan Trustee and (ii) having an average life not to
exceed one year as determined by standard industry pricing practices presently in effect;
(n) asset-backed securities having a Long-Term Rating of A, its equivalent or better by
Moody’s or S&P (or, if neither such organization then rates such obligations, by any nationally
recognized rating organization in the United States) or, if unrated, deemed to be of a comparable
quality by Loan Trustee; and (o) such other investments approved in writing by Loan
Trustee; provided that the instruments described in the foregoing clauses shall have a
maturity no later than the earliest date when such investments may be required for distribution.
The bank acting as Pass Through Trustee or Loan Trustee is hereby authorized, in making or
disposing of any investment described herein, to deal with itself (in its individual capacity) or
with any one or more of its affiliates, whether it or such affiliate is acting as an agent of Pass
Through Trustee or Loan Trustee or for any third person or dealing as principal for its own
account.

     “Permitted Lessee” means any Person to whom Company is permitted to lease the Airframe
or any Engine pursuant to Section 7.02(a) of the Indenture.

     “Permitted Lien” has the meaning specified in Section 7.01 of the Indenture.

     “Person” means any person, including any individual, corporation, limited liability
company, partnership, joint venture, association, joint-stock company, trust, trustee,
unincorporated organization or government or any agency or political subdivision thereof.

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     “Prospective International Interest” has the meaning ascribed to the defined term
“prospective international interest” under the Cape Town Treaty.

     [“Purchase Agreement” means Purchase Agreement No. 2022, dated as of October 21, 1997,
which incorporates by reference the Aircraft General Terms Agreement AGTA-DAL, dated as of October
21, 1997, between Manufacturer and Company, as the same may be amended, supplemented or otherwise
modified from time to time in accordance with its terms.]7

     [“Purchase Agreement” means Purchase Agreement No. 2023, dated as of October 21, 1997
which incorporates by reference the Aircraft General Terms Agreement AGTA-DAL, dated as of October
21, 1997, between Manufacturer and Company, as the same may be amended, supplemented or otherwise
modified from time to time in accordance with its terms.]8

     [“Purchase Agreement” means Purchase Agreement No. 2024, dated as of October 21, 1997,
which incorporates by reference the Aircraft General Terms Agreement AGTA-DAL, dated as of October
21, 1997, between Manufacturer and Company, as the same may be amended, supplemented or otherwise
modified from time to time in accordance with its terms.]9

     [“Purchase Agreement” means Purchase Agreement No. 2026, dated as of October 21, 1997
which incorporates by reference the Aircraft General Terms Agreement AGTA-DAL, dated as of October
21, 1997, between Manufacturer and Company, as the same may be amended, supplemented or otherwise
modified from time to time in accordance with its terms.]10

     “Rating Agencies” has the meaning specified in the Intercreditor Agreement.

     “Related Additional Series Equipment Note” means, with respect to any particular
series of Additional Series Equipment Notes and as of any date, an “Additional Series Equipment
Note”, as defined in each Related Indenture, having the same designation (i.e., “Series C” or the
like) as such Additional Series Equipment Notes, but only if as of such date it is held by the
“Subordination Agent” under the “Intercreditor Agreement”, as such terms are defined in such
Related Indenture.

 

			
	7	 	To be inserted for 737-832 or 737-732 aircraft.
	 
	8	 	To be inserted for 757-232 aircraft.
	 
	9	 	To be inserted for 767-332ER aircraft.
	 
	10	 	To be inserted for 777-232LR aircraft.

Participation Agreement (2009-1 EETC)

[Reg. No.]

 

 

     “Related Equipment Note” means, as of any date, an “Equipment Note” as defined in each
Related Indenture, but only if as of such date it is held by “Subordination Agent” under the
“Intercreditor Agreement”, as such terms are defined in such Related Indenture.

     “Related Indemnitee Group” has the meaning specified in Section 4.02(b) of the
Participation Agreement.

     “Related Indenture” means each Operative Indenture (other than the Indenture).

     “Related Indenture Bankruptcy Default” means any “Event of Default” under Section
4.01(f), (g), (h) or (i) of any Related Indenture, determined without giving effect to any
applicable grace period.

     “Related Indenture Event of Default” means any “Event of Default” under any Related
Indenture.

     “Related Indenture Indemnitee” means each Related Noteholder.

     “Related Loan Trustee” means “Loan Trustee” as defined in each Related Indenture.

     “Related Make-Whole Amount” means the “Make-Whole Amount”, as defined in each Related
Indenture.

     “Related Noteholder” means a registered holder of a Related Equipment Note.

     “Related Secured Obligations” means, as of any date, the outstanding principal amount
of the Related Equipment Notes issued under each Related Indenture, the accrued and unpaid interest
(including, to the extent permitted by applicable law, post-petition interest) due thereon in
accordance with such Related Indenture as of such date, Related Make-Whole Amount, if any, with
respect thereto in accordance with such Related Indenture as of such date, and any other amounts
payable as of such date under the “Operative Documents” (as defined in each Related Indenture).

     “Related Series A Equipment Note” means, as of any date, a “Series A Equipment Note”,
as defined in each Related Indenture, but only if as of such date it is held by the “Subordination
Agent” under the “Intercreditor Agreement”, as such terms are defined in such Related Indenture.

     “Related Series B Equipment Note” means, as of any date, a “Series B Equipment Note”,
as defined in each Related Indenture, but only if as of such date it is held by the “Subordination
Agent” under the “Intercreditor Agreement”, as such terms are defined in such Related Indenture.

Participation Agreement (2009-1 EETC)

[Reg. No.]

 

 

     “Replacement Aircraft” means the Aircraft of which a Replacement Airframe is part.

     “Replacement Airframe” means a Boeing [Model] aircraft or a comparable or improved
model of Manufacturer (except (a) Engines or engines from time to time installed thereon
and any and all Parts related to such Engine or engines and (b) Excluded Equipment), that
shall have been made subject to the Lien of the Indenture pursuant to Section 7.05 thereof,
together with all Parts relating to such aircraft.

     “Replacement Engine” means [Engine Manufacturer and Model] engine (or an engine of the
same or another manufacturer of a comparable or an improved model and suitable for installation and
use on the Airframe with the other Engine (or any other Replacement Engine being substituted
simultaneously therewith)) that is made subject to the Lien of the Indenture pursuant to Section
7.04 or Section 7.05 thereof, together with all Parts relating to such engine.

     “Replacement Liquidity Facility” has the meaning set forth in the Intercreditor
Agreement.

     “Replacement Liquidity Provider” has the meaning set forth in the Intercreditor
Agreement.

     “Responsible Officer” means, with respect to Company, its Chairman of the Board, its
President, its Chief Operating Officer, any Executive Vice President, any Senior Vice President,
the Chief Financial Officer, any Vice President, the Treasurer, the Controller or the Secretary.

     “S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services
LLC business.

     “Section 1110” means Section 1110 of the Bankruptcy Code.

     “Secured Obligations” has the meaning specified in Section 2.06 of the Indenture.

     “Securities Account” has the meaning specified in Section 3.07 of the Indenture.

     “Securities Act” means the Securities Act of 1933, as amended from time to time.

     “Securities Intermediary” has the meaning specified in Section 3.07 of the Indenture.

     “Series” means any series of Equipment Notes, including the Series A Equipment Notes,
the Series B Equipment Notes or any Additional Series Equipment Notes.

Participation Agreement (2009-1 EETC)

[Reg. No.]

 

 

     “Series A” or “Series A Equipment Notes” means Equipment Notes issued and
designated as “Series A Equipment Notes” under the Indenture, in the original principal amount and
maturities as specified in Schedule I to the Indenture under the heading “Series A Equipment Notes”
and bearing interest at the Debt Rate for Series A Equipment Notes specified in Schedule I to the
Indenture.

     “Series B” or “Series B Equipment Notes” means Equipment Notes issued and
designated as “Series B Equipment Notes” under the Indenture, in the original principal amount and
maturities as specified in Schedule I to the Indenture under the heading “Series B Equipment Notes”
and bearing interest at the Debt Rate for Series B Equipment Notes specified in Schedule I to the
Indenture.

     “Short-Term Rating” has the meaning specified in the Intercreditor Agreement.

     “Subordination Agent” has the meaning specified in the introductory paragraph of the
Participation Agreement.

     “Tax” and “Taxes” mean all governmental fees (including, without limitation,
license, filing and registration fees) and all taxes (including, without limitation, franchise,
excise, stamp, value added, income, gross receipts, sales, use and property taxes), withholdings,
assessments, levies, imposts, duties or charges, of any nature whatsoever, together with any
related penalties, fines, additions to tax or interest thereon imposed, withheld, levied or
assessed by any country, taxing authority or governmental subdivision thereof or therein or by any
international authority, including any taxes imposed on any Person as a result of such Person being
required to collect and pay over withholding taxes.

     “Transportation Code” means that portion of Title 49 of the United States Code
comprising those provisions formerly referred to as the Federal Aviation Act of 1958, as amended,
or any subsequent legislation that amends, supplements or supersedes such provisions.

     “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended from time to
time.

     “Trust Supplements” means those agreements supplemental to the Basic Pass Through
Trust Agreement referred to in Schedule II to the Participation Agreement.

     “UCC” means the Uniform Commercial Code as in effect in any applicable jurisdiction.

     “Underwriter” means each of the underwriters identified as such in the Underwriting
Agreement.

Participation Agreement (2009-1 EETC)

[Reg. No.]

 

 

     “Underwriting Agreement” means that certain Underwriting Agreement, dated as of
November 18, 2009, among Company and underwriters named therein, as the same may be amended,
supplemented or otherwise modified from time to time in accordance with its terms.

     “United States” means the United States of America.

     “U.S. Bank” has the meaning specified in the introductory paragraph of the
Participation Agreement.

     “Warranty Bill of Sale” means the warranty (as to title) bill of sale covering the
Aircraft executed by Manufacturer or an affiliate of Manufacturer in favor of Company and
specifically referring to each Engine, as well as the Airframe, constituting a part of the
Aircraft.

     “Warranty Rights” means all right and interest of Company in, to and under Parts 1, 2,
3, 4 and 6 of the Product Assurance Document attached as Exhibit C to the Aircraft General Terms
Agreement AGTA-DAL, dated as of October 21, 1997, but only to the extent the same relate to
continuing rights of Company in respect of any warranty or indemnity, express or implied, pursuant
to the Product Assurance Document with respect to the Airframe, it being understood that the
Warranty Rights exclude any and all other right, title and interest of Company in, to and under the
Purchase Agreement and that the Warranty Rights are subject to the terms of the Manufacturer’s
Consent.

Participation Agreement (2009-1 EETC)

[Reg. No.]

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