Document:

Exhibit 4.3

                                                                EXECUTION COPY

                              PURCHASE AGREEMENT

                                                             December 16, 1999

Deutsche Bank Securities Inc.
31 West 52nd Street
New York, New York 10019-6160

Dear Sirs:

          Amtran, Inc., an Indiana corporation (the "Company"), proposes to
issue and sell to Deutsche Bank Securities Inc. (the "Initial Purchaser")
$75,000,000 aggregate principal amount of its 10.5% Senior Notes due 2004 (the
"Securities") to be issued pursuant to the provisions of an Indenture dated as
of July 24, 1997 (the "Original Indenture") among the Company, as issuer,
American Trans Air, Inc. ("ATA"), Ambassadair Travel Club, Inc., ATA Leisure
Corp. (formerly known as ATA Vacations, Inc.), Amber Travel, Inc., American
Trans Air Training Corporation, American Trans Air Execujet, Inc., Amber Air
Freight Corporation (each, an Indiana corporation) and Chicago Express
Airlines, Inc., a Georgia corporation, as guarantors (together, the
"Guarantors"), and First Security Bank, N.A., as trustee (the "Trustee") as
supplemented by a supplemental indenture dated as of December 21, 1999 (the
"First Supplemental Indenture" and together with the Original Indenture, the
"Indenture") among the Company, the Guarantors and the Trustee. Pursuant to
the terms of the Indenture the Guarantors will guarantee (each, a "Guarantee")
on a joint and several basis the obligations of the Company under the
Securities and the Indenture.

          The Securities will be offered without being registered under the
Securities Act of 1933, as amended (the "Securities Act"), to "qualified
institutional buyers" (as defined in Rule 144A under the Securities Act) in
compliance with the exemption from registration provided by Rule 144A under
the Securities Act ("Rule 144A") and in offshore transactions in reliance on
Regulation S under the Securities Act ("Regulation S").

          The Initial Purchaser and its direct and indirect transferees will
be entitled to the benefits of a registration rights agreement (the
"Registration Rights Agreement"), to be dated the Closing Date (as defined
below) and to be substantially in the form attached hereto as Exhibit A.

          In connection with the sale of the Securities, the Company will
prepare a private placement memorandum (the "Memorandum") setting forth or
including a description of the terms of the Securities, the terms of the
offering and a description of the Company and its business. Any reference
herein to the Memorandum shall be deemed to refer to and include the documents
incorporated by reference therein which were filed under the Securities
Exchange Act of 1934, as amended (the "Exchange Act") on or before the date of
the Memorandum; and any reference herein to the terms "amend", "amendment" or
"supplement" with respect to the Memorandum shall be deemed to refer to and
include the filing of any document under the Exchange Act after the date of
the Memorandum, deemed to be incorporated therein by reference.

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                                                                             2

     1.   Representations and Warranties. Each of the Guarantors and the
Company represents and warrants to, and agrees with, the Initial Purchaser
that as of the date hereof:

          (a) The Memorandum, in the form used by the Initial Purchaser to
confirm sales and on the Closing Date (as defined below), will not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein, in the light of the circumstances under which
they were made, not misleading, except that the representations and warranties
set forth in this Section 1(a) do not apply to statements or omissions in the
Memorandum based upon information relating to the Initial Purchaser furnished
to the Company or any Guarantor in writing by the Initial Purchaser expressly
for use therein.

          (b) None of the Guarantors, the Company nor any affiliate (as
defined in Rule 501(b) of Regulation D under the Securities Act, an
"Affiliate") of the Guarantors or the Company has directly, or through any
agent, (i) sold, offered for sale, solicited offers to buy or otherwise
negotiated in respect of, any security (as defined in the Securities Act)
which is or will be integrated with the sale of the Securities in a manner
that would require the registration under the Securities Act of the Securities
or (ii) engaged in any form of general solicitation or general advertising in
connection with the offering of the Securities (as those terms are used in
Regulation D under the Securities Act) or in any manner involving a public
offering within the meaning of Section 4(2) of the Securities Act except that
no representation is made as to the activities of the Initial Purchaser.

          (c) None of the Guarantors, the Company, their Affiliates nor any
person acting on its or their behalf (other than the Initial Purchaser) has
engaged in any directed selling efforts (as that term is defined in Regulation
S) with respect to the Securities and each of the Guarantors, the Company and
its Affiliates and any person acting on its or their behalf (other than the
Initial Purchaser) have complied with the offering restrictions requirement of
Regulation S.

          (d) The Company is subject to Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended.

          (e) Assuming the accuracy of the representations and warranties of
the Initial Purchaser in Section 6 and the compliance by the Initial Purchaser
with its agreements in Section 6, it is not necessary in connection with the
offer, sale and delivery of the Securities and the Guarantees to the Initial
Purchaser in the manner contemplated by this Agreement to register the
Securities or Guarantees under the Securities Act, except as provided in the
Registration Rights Agreement. The Original Indenture is duly qualified under
the Trust Indenture Act of 1939, as amended.

          (f) The Securities satisfy the eligibility requirements of Rule
144A(d)(3) under the Securities Act.

          (g) Neither the Company nor any of the Guarantors is required to
register as an "investment company" and, after giving effect to the offer,
issuance and delivery of the Securities to the Initial Purchaser in accordance
with the terms of this Agreement and the application of the proceeds thereof
as described in the Memorandum, neither the Company nor any of the Guarantors
will be required to register as an

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                                                                             3

"investment company" under the Investment Company Act of 1940, as amended (the
"Investment Company Act").

          (h) The accountants that examined and issued an auditors report with
respect to the consolidated financial statements of the Company and its
consolidated subsidiaries included in the Memorandum are independent public
accountants within the meaning of the Securities Act and the regulations
thereunder.

          (i) This Agreement has been duly authorized, executed and delivered
by each of the Guarantors and the Company.

          (j) The consolidated financial statements included in the Memorandum
present fairly the consolidated financial position of the Company and its
consolidated subsidiaries as of the dates indicated and the consolidated
results of operations and cash flows or changes in financial position of the
Company and its consolidated subsidiaries for the periods specified. Such
financial statements have been prepared in conformity with generally accepted
accounting principles applied on a consistent basis throughout the periods
involved. The financial statement schedules, if any, included in the
Memorandum present fairly the information required to be stated therein.

          (k) Each of the Guarantors and the Company is a corporation duly
organized, validly existing and in good standing under the laws of the
jurisdiction in which it is incorporated with power and authority (corporate
and other) under such laws to own, lease and operate its properties and
conduct its business as described in the Memorandum and to perform its
obligations under this Agreement, the Registration Rights Agreement, the
Indenture, the Securities (in the case of the Company) and the Guarantees (in
the case of the Guarantors); and each of the Guarantors and the Company is
duly qualified to transact business as a foreign corporation and is in good
standing in each other jurisdiction in which it owns or leases property of a
nature, or transacts business of a type, that would make such qualification
necessary, except to the extent that the failure to so qualify or be in good
standing would not have a material adverse effect on the condition (financial
or other), business, prospects or results of operations of the Company and the
Guarantors, taken as a whole (a "Material Adverse Effect").

          (l) The Securities have been duly authorized and, when executed,
authenticated and delivered to and paid for by the Initial Purchaser in
accordance with the terms of this Agreement, will be (x) valid and binding
obligations of the Company enforceable in accordance with their terms, except
as (A) the enforceability thereof may be limited by bankruptcy, insolvency or
similar laws affecting creditors' rights generally and (B) rights of
acceleration, if applicable, and the availability of equitable remedies may be
limited by equitable principles of general applicability, and (y) be entitled
to the benefits of the Indenture and the Registration Rights Agreement.

          (m) The Guarantees have been duly authorized by each of the
Guarantors and, upon execution and delivery of the First Supplemental
Indenture by each of the Guarantors and the Company, will be (x) valid and
binding obligations of the each of the Guarantors enforceable in accordance
with their terms, except as (A) the enforceability thereof may be limited by
bankruptcy, insolvency or similar laws affecting creditors' rights generally
and (B) rights of acceleration, if applicable, and the availability of
equitable remedies may be limited by equitable principles of general

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                                                                             4

applicability, and (y) be entitled to the benefits of the Indenture and the
Registration Rights Agreement.

          (n) Each of the Original Indenture, the First Supplemental Indenture
and the Registration Rights Agreement has been duly authorized, executed and
delivered by, and is a valid and binding agreement of, the Company and each of
the Guarantors, enforceable in accordance with their terms, except as the
enforceability thereof, except as (A) the enforceability thereof may be
limited by bankruptcy, insolvency or similar laws relating to or affecting
creditors' rights generally, (B) rights of acceleration, if applicable, and
the availability of equitable remedies may be limited by equitable principles
of general applicability and (C) the rights to indemnification or contribution
may be limited by applicable law and public policy.

          (o) ATA is an air carrier operating under a certificate issued by
the Secretary of Transportation pursuant to Chapter 447 of Title 49, United
States Code, for aircraft capable of carrying 10 or more individuals or 6,000
pounds or more of cargo, and American Trans Air ExecuJet, Inc. ("ExecuJet") is
an "air taxi," and the Company, ATA and ExecuJet and (and after consummation
of the transactions contemplated herein will be) "citizens of the United
States," in each case within the meaning of the Federal Aviation Act of 1958,
as amended. All of the outstanding shares of capital stock of each of the
Guarantors have been duly authorized and validly issued and are fully paid and
non-assessable and are owned by the Company, free and clear of any pledge,
lien, security interest, charge, claim, equity or encumbrance of any kind.

          (p) There has not occurred any material adverse change, or any
development involving a prospective material adverse change, in the condition,
financial or otherwise, or in the earnings, business or operations of the
Guarantors and the Company taken as a whole, from that set forth in the
Memorandum.

          (q) Except as described in the Memorandum, none of the Guarantors or
the Company is in default in the performance or observance of any obligation,
agreement, covenant or condition contained in any contract, indenture,
mortgage, loan agreement, note, lease or other agreement or instrument to
which it is a party or by which they may be bound or to which any of their
properties may be subject, except for such defaults that would not have a
Material Adverse Effect.

          (r) The execution and delivery by each of the Guarantors and the
Company of this Agreement, the Registration Rights Agreement, the First
Supplemental Indenture, the Securities (in the case of the Company) and the
Guarantees (in the case of the Guarantors) (collectively, with the Original
Indenture, the "Operative Documents"), the consummation by each of the
Guarantors and the Company of the transactions contemplated in this Agreement
and the Operative Documents and compliance by each of the Guarantors and the
Company with the terms of this Agreement and the Operative Documents will not
contravene (i) any provision of applicable law or the articles of
incorporation or by-laws of the Guarantors or the Company, as the case may be,
(ii) any agreement or other instrument (including the Original Indenture)
binding upon the Guarantors or the Company or (iii) any judgment, order or
decree of any governmental body, agency or court having jurisdiction over the
Guarantors or the Company other than, in the case of clauses (ii) and (iii)
above, such contraventions that would not individually or in the aggregate
have a Material Adverse Effect, and no consent, approval, authorization or
order of, or qualification with, any governmental body or

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agency is required for the valid authorization, execution, delivery and
performance by each of the Guarantors and the Company of this Agreement or the
consummation by the Guarantors or the Company of the transactions contemplated
by this Agreement and the Operative Documents, except such as may be required
by the securities or Blue Sky laws of the various states in connection with
the offer and sale of the Securities and the Guarantees.

          (s) There are no legal or governmental proceedings pending or
threatened to which the Company or any of the Guarantors is a party, or to
which any of the properties of the Company or any of the Guarantors is
subject, other than proceedings accurately described in all material respects
in the Memorandum and proceedings that would not have a Material Adverse
Effect, or a material adverse effect on the power or ability of any of the
Guarantors or the Company to perform their respective obligations under this
Agreement or any of the Operative Documents, or to consummate the transactions
contemplated by the Memorandum.

          (t) The Company and each of the Guarantors possess adequate
certificates, authorities and permits issued by appropriate governmental
agencies or bodies necessary to conduct, in all material respects, the
business now operated by them and have not received any notice of proceedings
relating to the revocation or modification of any such certificate, authority
or permit that reasonably would be likely to, individually or in the
aggregate, have a Material Adverse Effect.

          (u) Except as disclosed in the Memorandum, no labor dispute with the
employees of the Company or any of the Guarantors exists or to the knowledge
of the Company or any of the Guarantors is imminent that might have a Material
Adverse Effect.

          (v) Except as disclosed in the Memorandum, the Company and each of
the Guarantors (i) are in compliance with any and all applicable foreign,
federal, state and local laws and regulations relating to the protection of
human health and safety, the environment or hazardous or toxic substances or
wastes, pollutants or contaminants ("Environmental Laws"), (ii) have received
all permits, licenses or other approvals required of them under applicable
Environmental Laws to conduct their respective businesses and (iii) are in
compliance with all terms and conditions of any such permit, license or
approval, except where such noncompliance with Environmental Laws, failure to
receive required permits, licenses or other approvals or failure to comply
with the terms and conditions of such permits, licenses or approvals would
not, singly or in the aggregate, have a Material Adverse Effect.

          (w) Except as disclosed in the Memorandum, each of the Guarantors
and the Company have good and marketable title to all real properties and all
other properties and assets owned by them, in each case free from liens,
encumbrances and defects except where the failure to have such title would not
have a Material Adverse Effect; and except as disclosed in the Memorandum,
each of the Guarantors and the Company hold any leased real or personal
property under valid and enforceable leases with no exceptions that would have
a Material Adverse Effect.

          (x) The Company and its subsidiaries have implemented a
comprehensive, detailed program to analyze and address the risk that the
computer hardware and software used by them may be unable to recognize and
properly execute

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                                                                             6

date-sensitive functions involving certain dates prior to and any dates after
December 31, 1999 (the "Year 2000 Problem"), and has determined that such risk
will be remedied on a timely basis without material expense and will not have
a Material Adverse Effect; and the Company believes, after due inquiry, that
each supplier, vendor, customer or financial service organization used or
serviced by the Company and its subsidiaries has remedied or will remedy on a
timely basis the Year 2000 Problem, except to the extent that a failure to
remedy by any such supplier, vendor, customer or financial service
organization would not have a Material Adverse Effect.

          The representations and warranties contained in this Agreement shall
be true and correct as of the date of this Agreement and as of the Closing
Date.

     2.   Offering. The Initial Purchaser has advised the Company and the
Guarantors that it will make an offering of the Securities received and paid
for by the Initial Purchaser hereunder on the terms set forth in the
Memorandum as soon as practicable after this Agreement is entered into as in
the Initial Purchaser's judgment is advisable.

     3.   Issuance and Delivery.

          (a) The Company hereby agrees to sell to the Initial Purchaser, and
the Initial Purchaser, upon the basis of the representations and warranties
herein contained, but subject to the conditions hereinafter stated, agrees to
purchase from the Company, $75,000,000 in aggregate principal amount of
Securities at a purchase price of 100% of the principal amount thereof.

          (b) Payment for the Securities shall be made against delivery of the
Securities at a closing (the "Closing") to be held at the office of Cleary,
Gottlieb, Steen & Hamilton at One Liberty Plaza, New York, New York 10006 at
10:00 A.M., local time, on December 21, 1999, or at such other time on the
same or such other date, not later than December 24, 1999, as shall be agreed
upon by the Company and the Initial Purchaser. The time and date of such
payment are herein referred to as the Closing Date. Delivery of the Securities
shall be made to the Initial Purchaser's account at The Depository Trust
Company against payment by the Initial Purchaser of the purchase price thereof
by wire transfer in immediately available funds.

          (c) Certificates for the Securities shall be in global or definitive
form and registered in such names and in such denominations as the Initial
Purchaser shall request in writing not less than two full business days prior
to the Closing Date. The certificates evidencing the Securities shall be
delivered to the Initial Purchaser on the Closing Date for its account, with
any transfer taxes payable in connection with the transfer of the Securities
to the Initial Purchaser duly paid, against payment of the purchase price
therefor.

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     4.   Conditions to Closing. The obligations of the Initial Purchaser
under this Agreement to purchase the Securities will be subject to the
following conditions:

          (a) Subsequent to the date of this Agreement and prior to the
Closing Date,

          (i) there shall not have occurred any downgrading, nor shall any
     notice have been given of any intended or potential downgrading or of any
     review for a possible change that does not indicate the direction of the
     possible change, in the rating accorded any securities of any of the
     Guarantors or the Company by any "nationally recognized statistical
     rating organization," as such term is defined for purposes of Rule
     436(g)(2) under the Securities Act; and

          (ii) there shall not have occurred any change, or any development
     involving a prospective change, in the condition, financial or otherwise,
     or in the earnings, business or operations, of the Company and the
     Guarantors, taken as a whole, from that set forth in the Memorandum that,
     in the Initial Purchaser's judgment, is material and adverse and that
     makes it, in the Initial Purchaser's judgment, impracticable to market
     the Securities on the terms and in the manner contemplated in the
     Memorandum.

          (b) The Initial Purchaser shall have received on the Closing Date
(i) a certificate, dated the Closing Date and signed by an executive officer
of the Company and (ii) a certificate, dated the Closing Date and signed by an
executive officer of each Guarantor, in each case, to the effect set forth in
clause (a)(i) above and to the effect that the representations and warranties
of the Company and the Guarantors contained in this Agreement are true and
correct as of the Closing Date and that the Company and each of the Guarantors
have complied with all of the agreements and satisfied all of the condit ions
on their part to be performed or satisfied on or before the Closing Date. The
officers signing and delivering such certificates may rely upon the best of
their knowledge as to proceedings threatened.

          (c) The Initial Purchaser shall have received on the Closing Date an
opinion of Cravath, Swaine & Moore, independent counsel for the Company, dated
the Closing Date, to the effect set forth in Exhibit B.

          (d) The Initial Purchaser shall have received on the Closing Date an
opinion of the General Counsel of the Guarantor(s) and the Company, dated the
Closing Date, to the effect set forth in Exhibit C.

          (e) The Initial Purchaser shall have received on the Closing Date an
opinion of Cleary, Gottlieb, Steen & Hamilton, counsel for it, dated the
Closing Date, in form and substance satisfactory to the Initial Purchaser.

          (f) The Initial Purchaser shall have received on each of the date
hereof and the Closing Date a letter, dated the date hereof or the Closing
Date, as the case may be, in form and substance satisfactory to it, from the
Guarantors' and the Company's independent public accountants, containing
statements and information of the type ordinarily included in accountants'
"comfort letters" to underwriters with respect to the financial statements and
certain financial information contained in the Memorandum;

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provided that the letter delivered on the Closing Date shall use a "cut-off
date" not earlier than this Agreement.

          (g) Each of the Guarantors and the Company shall have furnished to
the Initial Purchaser and to counsel for the Initial Purchaser, in form and
substance satisfactory to it and to them, such other documents, certificates
and opinions as such counsel may reasonably request in order to pass upon the
matters referred to in Section 4(e) and in order to evidence the accuracy and
completeness of any of the representations, warranties or statements, the
performance of any covenant by any of the Guarantors or the Company
theretofore to be performed, or the compliance with any of the conditions
herein contained.

          5. Covenants of the Company. In further consideration of the
agreements of the Initial Purchaser contained in this Agreement, the Company
and each of the Guarantors covenant as follows:

          (a) To furnish to the Initial Purchaser, without charge, during the
period mentioned in paragraph (c) below, as many copies of the Memorandum and
any supplements and amendments thereto as it may reasonably request and to
deliver such copies to the Initial Purchaser by 8:00 a.m. (New York time) on
the second business day following the execution of this Agreement.

          (b) Before amending or supplementing the Memorandum, to furnish to
the Initial Purchaser a copy of each such proposed amendment or supplement and
not to use any such proposed amendment or supplement to which the Initial
Purchaser reasonably objects.

          (c) If, during such period after the date hereof and prior to the
date on which all of the Securities shall have been sold by the Initial
Purchaser, any event shall occur or condition exist as a result of which it is
necessary in the Initial Purchaser's judgment to amend or supplement the
Memorandum in order to make the statements therein, in the light of the
circumstances when the Memorandum is delivered to a purchaser, not misleading,
or if, with the opinion of counsel to the Initial Purchaser it is necessary to
amend or supplement the Memorandum to comply with applicable law, forthwith to
prepare and furnish, at its own expense, to the Initial Purchaser, either
amendments or supplements to the Memorandum so that the statements in the
Memorandum as so amended or supplemented will not, in the light of the
circumstances when the Memorandum is delivered to a purchaser, be misleading
or so that the Memorandum, as so amended or supplemented, will comply with
applicable law.

          (d) So long as any of the Securities are "restricted securities"
within the meaning of Rule 144(a)(3) under the Securities Act, at any time
when the Company is not subject to Section 13 or 15(d) of the Exchange Act,
each of the Guarantors and the Company will provide to any holder of such
restricted securities, or to any prospective purchaser of such restricted
securities designated by a holder, upon the request of such holder or
prospective purchaser, any information required to be delivered to holders and
prospective purchasers of the Securities pursuant to Rule 144A(d)(4) under the
Securities Act.

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          (e) To endeavor to qualify the Securities and the Guarantees for
offer and sale under the applicable securities or Blue Sky laws of such
jurisdictions as the Initial Purchaser shall reasonably request.

          (f) For a period of five years after the Closing Date, the
Guarantors and the Company will make available to the Initial Purchaser copies
of all annual reports, quarterly reports and current reports filed by the
Company with the Securities and Exchange Commission (the "Commission") on
Forms 10-K, 10-Q and 8-K, or such other similar forms as may be designated by
the Commission, and such other documents, reports and information as shall be
furnished by the Company to the holders of the Securities or the Guarantors to
their security holders generally; provided that at such time the Company has
securities registered under Section 12(b) or 12(g) of the Exchange Act.

          (g) During the period of two years after the Closing Date, each of
the Guarantors and the Company will, upon request, furnish to the Initial
Purchaser and any holder of the Securities a copy of the restrictions on
transfer applicable to the Securities.

          (h) During the period of two years after the Closing Date, none of
the Guarantors or the Company will, and none of the Guarantors or the Company
will permit any of their affiliates (as defined in Rule 144 under the
Securities Act) to, resell any of the Securities that have been reacquired by
any of them.

          (i) During the period of two years after the Closing Date, none of
the Guarantors or the Company will be or become an open-end investment
company, unit investment trust or face-amount certificate company that is or
is required to be registered under Section 8 of the Investment Company Act, or
a closed-end investment company required to be registered, but not registered,
under the Investment Company Act.

          (j) The Company shall bear and pay all costs and expenses incurred
incident to the performance of its obligations under this Agreement, whether
or not the transactions contemplated herein are consummated or this Agreement
is terminated pursuant to Section 8 hereof, including: (i) the fees and
expenses of preparation, issuance and delivery of this Agreement to the
Initial Purchaser; (ii) the fees and expenses of its counsel, accountants and
any other experts or advisors retained by the Company; (iii) the fees and
expenses incurred in connection with the preparation of the Memorandum and all
amendments and supplements thereto; (iv) the fees and expenses of the printing
and distribution of the Memorandum and the printing and production of all
other documents connected with the offering of the Securities (including this
Agreement and any other related agreements); (v) expenses related to the
qualification of the Securities under the state securities or Blue Sky laws,
including filing fees and the fees and disbursements of counsel for the
Initial Purchaser in connection therewith and in connection with the
preparation of any Blue Sky memoranda; (vi) the expenses arising from having
the Securities designated as eligible for trading in the PORTAL market; (vii)
the expenses associated with the preparation, issuance and delivery to the
Initial Purchaser of the Securities; (viii) the fees and expenses of the
Trustee and (ix) the expenses of the "roadshow" and any other meetings with
prospective investors in the Securities.

          (k) In connection with the offering, until the Initial Purchaser
shall have notified the Guarantors and the Company of the completion of the
resale of the Securities, neither the Company, any Guarantor nor any of their
affiliates has bid for or purchased or will bid for or

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purchase, either alone or with one or more other persons, for any account in
which they or any of their affiliates have a beneficial interest in any
Securities, and neither they nor any of their affiliates will make bids or
purchases for the purpose of creating actual, or apparent, active trading in,
or of raising the price of, the Securities, in either case in violation of
Regulation M under the Exchange Act.

          (l) Between the date of this Agreement and the Closing Date, none of
the Guarantors or the Company will without the Initial Purchaser's prior
written consent offer, sell, or enter into any agreement to sell, any public
debt securities registered under the Securities Act or any debt securities
which may be resold in a transaction exempt from the registration requirements
of the Securities Act in reliance on Rule 144A thereunder and which are
marketed through the use of a disclosure document containing substantially the
same information as a prospectus for similar debt securities registered under
the Securities Act (other than the Securities).

          (m) Not to solicit any offer to buy or offer or sell the Securities
by means of any form of general solicitation or general advertising (as those
terms are used in Regulation D under the Securities Act) or in any manner
involving a public offering within the meaning of Section 4(2) of the
Securities Act.

          (n) If requested by the Initial Purchaser, to use its reasonable
efforts to permit the Securities to be designated PORTAL securities in
accordance with the rules and regulations adopted by the National Association
of Securities Dealers, Inc. relating to trading in the PORTAL Market.

          (o) None of the Company, the Guarantors, their Affiliates or any
person acting on its or their behalf (other than the Initial Purchaser) will
engage in any directed selling efforts (as that term is defined in Regulation
S) with respect to the Securities, and the Company, each of the Guarantors and
their Affiliates and each person acting on its or their behalf (other than the
Initial Purchaser) will comply with the offering restrictions of Regulation S.

          (p) Neither the Company, any Guarantor nor any Affiliate will sell,
offer for sale or solicit offers to buy or otherwise negotiate in respect of
any security (as defined in the Securities Act) which could be integrated with
the sale of the Securities in a manner which would require the registration
under the Securities Act.

     6.   Offering of Securities; Restrictions on Transfer.

          (a) The Initial Purchaser represents and warrants that it is a
qualified institutional buyer as defined in Rule 144A under the Securities Act
(a "QIB"). The Initial Purchaser agrees with the Company that (i) it has not
and will not solicit offers for, and has not offered or sold and will not
offer or sell, such Securities by any form of general solicitation or general
advertising (as those terms are used in Regulation D under the Securities Act)
or in any manner involving a public offering within the meaning of Section
4(2) of the Securities Act and (ii) it has and will solicit offers for such
Securities only from, and has offered and will offer such Securities only to,
persons that it reasonably believes to be (A) in the case of offers inside the
United States, QIBs and (B) in the case of offers outside the United States,
to persons other than U.S. persons ("foreign purchasers," which term shall
include dealers or other professional fiduciaries in the United States acting
on a discretionary basis for foreign beneficial owners (other

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                                                                            11

than an estate or trust)) that, in each case, in purchasing such Securities
are deemed to have represented and agreed as provided in the Memorandum under
the caption "Transfer Restrictions."

          (b) The Initial Purchaser represents, warrants, and agrees with
respect to offers and sales outside the United States that:

          (i) it understands that no action has been or will be taken in any
     jurisdiction by any Guarantor or the Company that would permit a public
     offering of the Securities, or possession or distribution of the
     Memorandum or any other offering or publicity material relating to the
     Securities, in any country or jurisdiction where action for that purpose
     is required;

          (ii) such Initial Purchaser will comply with all applicable laws and
     regulations in each jurisdiction in which it acquires, offers, sells or
     delivers Securities or has in its possession or distributes the
     Memorandum or any such other material, in all cases at its own expense;

          (iii) the Securities have not been and will not be registered under
     the Securities Act and may not be offered or sold within the United
     States or to, or for the account or benefit of, U.S. persons except in
     accordance with Regulation S or pursuant to an exemption from the
     registration requirements of the Securities Act;

          (iv) the Initial Purchaser has offered the Securities and will offer
     and sell the Securities (A) as part of their distribution at any time and
     (B) otherwise until 40 days after the later of the commencement of the
     offering of the Securities and the Closing Date, only in accordance with
     Rule 903 of Regulation S or another exemption from the registration
     requirements of the Securities Act. Accordingly, neither the Initial
     Purchaser, its Affiliates nor any persons acting on its or their behalf
     have engaged or will engage in any directed selling efforts (within the
     meaning of Regulation S) with respect to the Securities, and the Initial
     Purchaser, its Affiliates and any such persons have complied and will
     comply with the offering restrictions requirements of Regulation S;

          (v) the Initial Purchaser represents that it has (i) not offered or
     sold, and will not offer or sell, in the United Kingdom, by means of any
     document, any Securities other than to persons whose ordinary business it
     is to buy or sell shares or debentures, whether as principal or as agent
     (except in circumstances which do not constitute an offer to the public
     within the meaning of the Companies Act 1989 of Great Britain); (ii)
     complied and will comply with all applicable provisions of the Financial
     Services Act 1986 of the United Kingdom with respect to anything done by
     it in relation to the Securities in, from or otherwise involving the
     United Kingdom; and (iii) only issued or passed on and will only issue or
     pass on in the United Kingdom any document received by it in connection
     with the issue of the Securities to a person who is of a kind described
     in Article 9(3) of the Financial Services Act 1986 (Investment
     Advertisements) (Exemptions) Order 1996 or is a person to whom the
     document may otherwise lawfully be issued or passed on;

<PAGE>

                                                                            12

          (vi) the Initial Purchaser understands that the Securities have not
     been and will not be registered under the Securities and Exchange Law of
     Japan, and represents that it has not offered or sold, and agrees that it
     will not offer or sell, any Securities, directly or indirectly in Japan
     or to any resident of Japan except (A) pursuant to an exemption from the
     registration requirements of the Securities and Exchange Law of Japan and
     (B) in compliance with any other applicable requirements of Japanese law;
     and

          (vii) the Initial Purchaser agrees that, at or prior to confirmation
     of sales of the Securities, it will have sent to each distributor, dealer
     or person receiving a selling concession, fee or other remuneration that
     purchases Securities from it during the restricted period a confirmation
     or notice to substantially the following effect:

          "The Securities covered hereby have not been registered under the
          U.S. Securities Act of 1933 (the "Securities Act") and may not be
          offered and sold within the United States or to, or for the account
          or benefit of, U.S. persons (i) as part of their distribution at any
          time or (ii) otherwise until 40 days after the later of the
          commencement of the offering and the closing date, except in either
          case in accordance with Regulation S (or Rule 144A if available)
          under the Securities Act. Terms used above have the meanings given
          to them by Regulation S."

Terms used in this Section 6 have the meaning given to them by Regulation S of
the Securities Act.

     7.   Indemnification and Contribution.

          (a) Each of the Company and each Guarantor, jointly and severally,
agrees to indemnify and hold harmless the Initial Purchaser, and each person,
if any, who controls the Initial Purchaser within the meaning of either
Section 15 of the Securities Act or Section 20 of the Exchange Act, or is
under common control with, or is controlled by, the Initial Purchaser, from
and against any and all losses, claims, damages and liabilities (including,
without limitation, any legal or other expenses reasonably incurred by the
Initial Purchaser or any such controlling of affiliated person in connection
with defending or investigating any such action or claim) caused by any untrue
statement or alleged untrue statement of a material fact contained in the
Memorandum (as amended or supplemented if the Company shall have furnished any
amendments or supplements thereto), or caused by any omission or alleged
omission to state therein a material fact necessary to make the statements
therein in light of the circumstances under which they were made not
misleading, except insofar as such losses, claims, damages or liabilities are
caused by any such untrue statement or omission or alleged untrue statement or
omission based upon information relating to the Initial Purchaser furnished to
any Guarantor or the Company in writing by the Initial Purchaser expressly for
use therein.

          (b) The Initial Purchaser agrees to indemnify and hold harmless each
Guarantor and the Company, their directors, their officers and each person, if
any, who controls the Company or any Guarantor within the meaning of either
Section 15 of the Securities Act or Section 20 of the Exchange Act to the same
extent as the foregoing indemnity from each Guarantor and the Company to the
Initial Purchaser, but only with reference to information relating to the
Initial Purchaser furnished to any Guarantor or

<PAGE>

                                                                            13

the Company in writing by the Initial Purchaser expressly for use in the
Memorandum or any amendments or supplements thereto.

          (c) In case any proceeding (including any governmental
investigation) shall be instituted involving any person in respect of which
indemnity may be sought pursuant to either paragraph (a) or (b) above, such
person (the "indemnified party") shall promptly notify the person against whom
such indemnity may be sought (the "indemnifying party") in writing and the
indemnifying party, upon request of the indemnified party, shall retain
counsel reasonably satisfactory to the indemnified party to represent the
indemnified party and any others the indemnifying party may designate in such
proceeding and shall pay the fees and disbursements of such counsel related to
such proceeding. In any such proceeding, any indemnified party shall have the
right to retain its own counsel, but the fees and expenses of such counsel
shall be at the expense of such indemnified party unless (i) the indemnifying
party and the indemnified party shall have mutually agreed to the retention of
such counsel or (ii) the named parties to any such proceeding (including any
impleaded parties) include both the indemnifying party and the indemnified
party and representation of both parties by the same counsel would be
inappropriate due to actual or potential differing interests between them. It
is understood that the indemnifying party shall not, in connection with any
proceeding or related proceedings in the same jurisdiction, be liable for the
fees and expenses of more than one separate firm (in addition to any local
counsel) for all such indemnified parties and that all such fees and expenses
shall be reimbursed as they are incurred. Such firm shall be designated in
writing by the Initial Purchaser, in the case of parties indemnified pursuant
to paragraph (a) above, and by the Guarantors and the Company in the case of
parties indemnified pursuant to paragraph (b) above. The indemnifying party
shall not be liable for any settlement of any proceeding effected without its
written consent, but if settled with such consent or if there be a final
judgment for the plaintiff, the indemnifying party agrees to indemnify the
indemnified party from and against any loss or liability by reason of such
settlement or judgment. Notwithstanding the foregoing sentence, if at any time
an indemnified party shall have requested an indemnifying party to reimburse
the indemnified party for fees and expenses f counsel as contemplated by the
second and third sentences of this paragraph, the indemnifying party agrees
that it shall be liable for any settlement of any proceeding effected without
its written consent if (i) such settlement is entered into more than 30 days
after receipt by such indemnifying party of the aforesaid request and (ii)
such indemnifying party shall not have reimbursed the indemnified party in
accordance with such request prior to the date of such settlement. No
indemnifying party shall, without the prior written consent of the indemnified
party, effect any settlement of any pending or threatened proceeding in
respect of which any indemnified party is or could have been a party and
indemnity could have been sought hereunder by such indemnified party, unless
such settlement includes an unconditional release of such indemnified party
from all liability on claims that are the subject matter of such proceeding.

          (d) To the extent the indemnification provided for in paragraph (a)
or (b) of this Section 7 is unavailable to an indemnified party or
insufficient in respect of any losses, claims, damages or liabilities, then
each indemnifying party under such paragraph, in lieu of indemnifying such
indemnified party thereunder, shall contribute to the amount paid or payable
by such indemnified party as a result of such losses, claims, damages or
liabilities (i) in such proportion as is appropriate to reflect the relative
benefits received by the Guarantors and the Company, on the one hand, and the
Initial Purchaser, on the other hand, from the offering of such Securities or
(ii) if the allocation

<PAGE>

                                                                            14

provided by clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) above but also the relative fault of the Guarantors
and the Company on the one hand and the Initial Purchaser on the other hand in
connection with the statements or omissions that resulted in such losses,
claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative benefits received by the Guarantors and the
Company on the one hand and the Initial Purchaser on the other hand in
connection with the offering of such Securities shall be deemed to be in the
same respective proportions as the net proceeds from the offering of such
Securities (before deducting expenses) received by the Guarantors and the
Company and the total discounts and commissions received by the Initial
Purchaser in respect thereof bear to the aggregate offering price of such
Securities. The relative fault of the Guarantors and the Company on the one
hand and of the Initial Purchaser on the other hand shall be determined by
reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by any Guarantor or the Company
or by the Initial Purcaser and the parties' relative intent, knowledge, access
to information and opportunity to correct or prevent such statement or
omission.

          (e) The Guarantors, the Company and the Initial Purchaser agree that
it would not be just or equitable if contribution pursuant to this Section 7
were determined by pro rata allocation or by any other method of allocation
that does not take account of the equitable considerations referred to in
paragraph (d) above. The amount paid or payable by an indemnified party as a
result of the losses, claims, damages and liabilities referred to in paragraph
(d) above shall be deemed to include, subject to the limitations set forth
above, any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 7, the Initial Purchaser shall
not be required to contribute any amount in excess of the amount by which the
total price at which the Securities resold by it in the initial placement of
such Securities were offered to investors exceeds the amount of any damages
that the Initial Purchaser has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. No
person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation.

          (f) The indemnity and contribution provisions contained in this
Section 7 and the representations and warranties of the Guarantors and the
Company contained in this Agreement shall remain operative and in full force
and effect regardless of (i) termination of this Agreement, (ii) any
investigation made by or on behalf of the Initial Purchaser or any person
controlling the Initial Purchaser or by or on behalf of any Guarantor or the
Company, their officers or directors or any person controlling any Guarantor
or the Company and (iii) acceptance of and payment for any of the Securities.
The remedies provided for in this Section 7 are not exclusive and shall not
limit any rights or remedies which may otherwise be available to any
indemnified party at law or in equity.

     8.   Termination. This Agreement shall be subject to termination in the
absolute discretion of the Initial Purchaser, by notice given by it to the
Company, if (a) after the execution and delivery of this Agreement and prior
to the Closing Date (i) trading generally shall have been suspended or
materially limited on or by, as the case

<PAGE>

                                                                            15

may be, the New York Stock Exchange, the American Stock Exchange, or the
National Association of Securities Dealers, Inc., (ii) trading of any
securities of any Guarantor or the Company shall have been suspended on any
exchange or in any over-the-counter market, (iii) a general moratorium on
commercial banking activities in New York shall have been declared by either
Federal or New York State authorities or (iv) there shall have occurred any
outbreak or escalation of hostilities or any change in financial markets or
any calamity or crisis that, in the Initial Purchaser's judgment, is material
and adverse and (b) in the case of any of the events specified in clauses
(a)(i) through (iv), such event singly or together with any other such event
makes it, in the Initial Purchaser's judgment, impracticable to market the
Securities on the terms and in the manner contemplated in the Memorandum.

     9.   Miscellaneous.

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

          (b) If this Agreement shall be terminated by the Initial Purchaser
because of any failure or refusal on the part of any Guarantor or the Company
to comply with the terms or to fulfill any of the conditions of this
Agreement, or if for any reason any Guarantor or the Company shall be unable
to perform its obligations under this Agreement, or because of any termination
pursuant to Section 8 hereof (other than by reason of a default by the Initial
Purchaser), the Guarantors and the Company will reimburse the Initial
Purchaser for all out-of-pocket expenses (including the reasonable fees and
disbursements of their counsel) reasonably incurred by the Initial Purchaser
in connection with this Agreement or the offering contemplated hereunder.

          (c) All notices and other communications under this Agreement shall
be in writing, and, if sent the Initial Purchaser, be mailed, delivered or
sent by facsimile transmission to:

Deutsche Bank Securities Inc.
130 Liberty Street
New York, New York 10006
Attention:  Khawer Ali
Facsimile Number:  (212) 669-1520

or, if sent to the Company or the Guarantors, will be mailed, delivered or
sent by facsimile transmission to the Company at:

                                       with a copy to:

Amtran, Inc.                           Cravath, Swaine & Moore
7337 West Washington Street            Worldwide Plaza, 825 Eighth Avenue
Indianapolis, IN  46231                New York, NY  10019
Attention:  Brian T. Hunt, Esq.        Attention:  William P. Rodgers, Jr., Esq.
Facsimile Number:  (317) 240-7091      Facsimile Number:  (212) 474-3700

<PAGE>

                                                                            16

          (d) This Agreement shall be governed by and construed in accordance
with the internal laws of the State of New York.

          (e) The headings of the sections of this Agreement have been
inserted for convenience of reference only and shall not be deemed a part of
this Agreement.

<PAGE>

                                                                            17

          Please confirm your agreement to the foregoing by signing in the
space provided below for that purpose and returning to us a copy hereof,
whereupon this Agreement shall constitute a binding agreement between us.

                                                  Very truly yours,

                                                  AMTRAN, INC.

                                                  By: /s/ Kenneth K. Wolff
                                                      -------------------------
                                                      Name:  Kenneth K. Wolff
                                                      Title: Executive Vice
                                                             President & CFO

                                                  AMERICAN TRANS AIR, INC.

                                                   By: /s/ Kenneth K. Wolff
                                                      -------------------------
                                                      Name:  Kenneth K. Wolff
                                                      Title: Executive Vice
                                                             President & CFO

                                                   By: /s/ Kenneth K. Wolff
                                                      -------------------------
                                                      Name:  Kenneth K. Wolff
                                                      Title: Executive Vice
                                                             President & CFO

                                                  ATA LEISURE CORP. (formerly
                                                  ATA Vacations, Inc.)

                                                   By: /s/ Kenneth K. Wolff
                                                      -------------------------
                                                      Name:  Kenneth K. Wolff
                                                      Title: Executive Vice
                                                             President & CFO

                                                  AMBER TRAVEL, INC.

                                                   By: /s/ Kenneth K. Wolff
                                                      -------------------------
                                                      Name:  Kenneth K. Wolff
                                                      Title: Executive Vice
                                                             President & CFO

<PAGE>

                                                                            18

                                                  CHICAGO EXPRESS AIRLINES, INC.

                                                   By: /s/ Stephen Cooper
                                                      -------------------------
                                                      Name:  Stephen Cooper
                                                      Title: Acting President

                                                  AMERICAN TRANS AIR TRAINING
                                                  CORPORATION

                                                   By: /s/ Kenneth K. Wolff
                                                      -------------------------
                                                      Name:  Kenneth K. Wolff
                                                      Title: Executive Vice
                                                             President & CFO

                                                  AMERICAN TRANS AIR EXECUJET,
                                                  INC.

                                                   By: /s/ Kenneth K. Wolff
                                                      -------------------------
                                                      Name:  Kenneth K. Wolff
                                                      Title: Executive Vice
                                                             President & CFO

                                                  AMBER AIR FREIGHT CORPORATION

                                                   By: /s/ Kenneth K. Wolff
                                                      -------------------------
                                                      Name:  Kenneth K. Wolff
                                                      Title: Executive Vice
                                                             President & CFO

Accepted as of the date first above written:

DEUTSCHE BANK SECURITIES INC.

By: /s/ Khawer Ali
    ---------------------------------
    Name:  Khawer Ali
    Title: Director

By: /s/ John Perra
    ----------------------------------
    Name:  John Perra
    Title: Associate

<PAGE>

                                                                     EXHIBIT A

                     Form of Registration Rights Agreement

<PAGE>

                                                                     EXHIBIT B

                              Form of Opinion of
                            Cravath, Swaine & Moore

               (i) No authorization, approval or other action by, and no
          notice to, consent of, order of, or filing with, any United States
          Federal, New York or, to the extent required under the General
          Corporation Law of the State of Delaware, governmental authority or
          regulatory body is required for the consummation of the transactions
          contemplated by the Purchase Agreement, except such as may be
          required under the blue sky laws of any jurisdiction in connection
          with the purchase and distribution of the Securities by the Initial
          Purchaser;

               (ii) (A) The statements in the Memorandum under the caption
          "Description of the Notes," insofar as such statements purport to
          summarize provisions of the Securities, fairly summarize such
          provisions, and (B) the statements in the Memorandum under the
          caption "Certain United States Federal Income Tax Consequences,"
          insofar as they purport to describe the material tax consequences of
          an investment in the Securities, fairly summarize the matters
          therein described;

               (iii) Assuming (i) the accuracy of the representations and
          warranties of the Company, each of the Guarantors and the Initial
          Purchaser set forth in the Purchase Agreement, (ii) the due
          performance by the Company, each of the Guarantors and the Initial
          Purchaser, of the covenants and agreements set forth in the Purchase
          Agreement, (iii) the Initial Purchaser's compliance with the
          offering and transfer procedures and restrictions described in the
          Memorandum and (iv) the accuracy of the representations and
          warranties made in accordance with the Purchase Agreement and the
          Memorandum by purchasers to whom the Initial Purchaser initially
          resells the Securities, the offer, sale and delivery of the
          Securities to the Initial Purchaser in the manner contemplated by
          the Purchase Agreement and the Memorandum and the initial resale of
          the Securities by the Initial Purchaser in the manner contemplated
          in the Memorandum and the Purchase Agreement, do not require
          registration under the Securities Act of 1933, as amended, it being
          understood that no opinion is expressed as to any subsequent resale
          of any Securities;

               (iv) Neither the Company nor any of the Guarantors is required
          to register as an "investment company" and, after giving effect to
          the offer, issuance and delivery of the Securities in accordance
          with the terms of the Purchase Agreement and the application of the
          proceeds thereof as described in the Memorandum, neither the Company
          nor any of the Guarantors will be required to register as an
          "investment Company" under the Investment Company Act of 1940, as
          amended;

               (v) Each of the Original Indenture, the First Supplemental
          Indenture and the Registration Rights Agreement constitute legal,
          valid and binding obligations of the Company and each Guarantor,
          enforceable against the Company and each Guarantor in accordance
          with their terms (subject to applicable bankruptcy, insolvency,
          fraudulent transfer, reorganization, moratorium or other similar
          laws affecting creditors'

<PAGE>

                                                                             2

          rights generally from time to time in effect and to general
          principles of equity, including, without limitation, concepts of
          materiality, reasonableness, good faith and fair dealing, regardless
          of whether such enforceability is considered in a proceeding in
          equity or at law);

               (vi) The Securities when executed, issued and authenticated in
          accordance with the provisions of the Indenture and delivered to the
          Initial Purchaser against payment therefor in accordance with the
          provisions of the Purchase Agreement, will be legal, valid and
          binding obligations of the Company, enforceable against the Company
          in accordance with their terms and entitled to the benefits of the
          Indenture (subject to applicable bankruptcy, insolvency, fraudulent
          transfer, reorganization, moratorium or other laws affecting
          creditors' rights generally from time to time in effect and to
          general principles of equity, including, without limitation,
          concepts of materiality, reasonableness, good faith and fair
          dealing, regardless of whether such enforceability is considered in
          a proceeding in equity or at law); in expressing the opinion set
          forth in this paragraph (vi), such counsel may assume, with the
          consent of the Initial Purchaser, that the form of the Securities
          will conform to that included in the Indenture; and

               (vii) Upon execution and delivery of the First Supplemental
          Indenture by the Guarantors and the Company, the Guarantees will be
          legal, valid and binding obligations of each of the Guarantors,
          enforceable against each of the Guarantors in accordance with their
          terms and entitled to the benefits of the Indenture (subject to
          applicable bankruptcy, insolvency, fraudulent transfer,
          reorganization, moratorium or other laws affecting creditors' rights
          generally from time to time in effect and to general principles of
          equity, including, without limitation, concepts of materiality,
          reasonableness, good faith and fair dealing, regardless of whether
          such enforceability is considered in a proceeding in equity or at
          law);

and to such further effect with respect to other legal matters relating to the
Purchase Agreement and the sale of the Securities thereunder as counsel for
the Initial Purchaser may reasonably request.

          Such opinion shall also state that, in connection with the
preparation of the Memorandum, such counsel has participated in conferences
with certain officers of, and with the accountants and counsel for, the
Guarantors and the Company concerning the preparation of the Memorandum. Such
opinion may state that although such counsel has made certain inquiries and
investigations in connection with the preparation of the Memorandum, the
limitations inherent in the role of outside counsel are such that such counsel
does not assume responsibility for the accuracy or completeness of the
statements made in the Memorandum, except insofar as the statements relate to
such counsel and except to the extent set forth in paragraph (ii) of such
counsel's opinion dated the date hereof. Subject to the foregoing, such
opinion shall state that such counsel advises the Initial Purchaser that their
work in connection with this matter did not disclose any information that gave
such counsel reason to believe that the Memorandum (except the financial
statements and other information of a statistical, accounting or financial
nature included or incorporated by reference therein, as to which such counsel
does not express any view) as of its date or the date hereof, included or
includes an

<PAGE>

                                                                             3

untrue statement of a material fact or omitted or omits to state a
material fact necessary in order to make the statements therein, in light of
the circumstances under which they were made, not misleading.

<PAGE>

                                                                     EXHIBIT C

                    Form of Opinion of the General Counsel
                       of the Guarantors and the Company

               (i) Each of the Guarantors and the Company is a corporation
          duly incorporated, validly existing and in good standing under the
          laws of the jurisdiction in which it is incorporated, with corporate
          power and authority under such laws to own, lease and operate its
          properties and conduct its business as described in the Memorandum
          and to perform its obligations under the Purchase Agreement, the
          Registration Rights Agreement, the Securities (with respect to the
          Company), the Guarantees (with respect to the Guarantors), and the
          Indenture;

               (ii) Each of the Guarantors and the Company are duly qualified
          to transact business as a foreign corporation and are in good
          standing in each other jurisdiction in which they own or lease
          property of a nature, or transact business of a type, that would
          make such qualification necessary, except to the extent that the
          failure to so qualify or be in good standing would not have a
          Material Adverse Effect;

               (iii) ATA is a "citizen of the United States" (as defined in
          Section 40102(a)(15) of Title 49 of the United States Code) and is
          an air carrier operating under a certificate issued by the Secretary
          of Transportation pursuant to Chapter 447 of Title 49, United States
          Code, for aircraft capable of carrying 10 or more individuals or
          6,000 pounds or more of cargo; there is in force with respect to ATA
          an air carrier operating certificate issued pursuant to Part 121 of
          the regulations under the Federal Aviation Act; all of the
          outstanding shares of capital stock of each of the Guarantors have
          been duly authorized and validly issued and are fully paid and
          non-assessable and are owned by the Company, free and clear of any
          pledge, lien, security interest, charge, claim, equity or
          encumbrance of any kind;

               (iv) No consent, approval, authorization or order of, or
          qualification with, any governmental body or agency is required for
          the valid authorization, issuance and delivery of the Securities,
          the valid authorization, execution, delivery and performance by each
          of the Guarantors and the Company of the Purchase Agreement and the
          Operative Documents, or the consummation by each of the Guarantors
          and the Company of the transactions contemplated by the Purchase
          Agreement and the Operative Documents, except such as may be
          required by the securities or Blue Sky laws of the various states in
          connection with the offer and sale of the Securities;

               (v) The execution and delivery by each of the Guarantors and
          the Company of the Purchase Agreement and the Operative Documents,
          the issuance and sale of the Securities, the consummation by each of
          the Guarantors and the Company of the transactions contemplated in
          the Purchase Agreement and the Operative Documents, and compliance
          by each of the Guarantors and the Company with the terms thereof
          will not contravene (i) any provision of applicable law, (ii) the
          certificate of incorporation or by-laws of any Guarantor and the
          Company, (iii) to such counsel's knowledge, any agreement or other
          instrument binding upon any Guarantor or any of its subsidiaries
          that is material to such Guarantor and the Company, taken as a
          whole, or (iv) to such counsel's

<PAGE>

                                                                             2

          knowledge, any judgment, order or decree of any governmental body,
          agency or court having jurisdiction over, any Guarantor or the
          Company;

               (vi) Each of the Registration Rights Agreement, the First
          Supplemental Indenture and the Indenture has been duly authorized,
          executed and delivered by each of the Guarantors and the Company;

               (vii) The Purchase Agreement has been duly authorized, executed
          and delivered by each of the Guarantors and the Company; and the
          sale of the Securities by the Company pursuant to the Purchase
          Agreement has been duly authorized;

               (viii) There are no legal or governmental proceedings pending
          or threatened to which any Guarantor or the Company is a party, or
          to which any of the properties of any Guarantor or the Company is
          subject, other than proceedings accurately described in all material
          respects in the Memorandum and proceedings that would not have a
          Material Adverse Effect, or a material adverse effect on the power
          or ability of any Guarantor or the Company to perform its
          obligations under this Agreement or the Operative Documents, or to
          consummate the transactions contemplated by the Memorandum.

               (ix) ATA is an "air carrier", ExecuJet is an "air taxi", and
          each of them is (and after consummation of the transactions
          contemplated herein will be) a "citizen of the United States", in
          each case within the Federal Aviation Act of 1958, as amended,
          provided that at least 75 percent of the voting interest continues
          to be owned or controlled by persons who are citizens of the United
          States;

               (x) ATA is an air carrier operating under the Certificates of
          Public Convenience and Necessity issued by the Department of
          Transportation ("DOT") and its predecessor agency the Civil
          Aeronautics Board pursuant to ss.401 of the Federal Aviation Act of
          1958, as amended, and an Operating Certificate and Operations
          Specifications issued by the Federal Aviation Administration ("FAA")
          pursuant to 14 C.F.R. Part 121, and ExecuJet is an air taxi holding
          a valid registration under Part 298 of the DOT regulations, and an
          Operating Certificate and Operations Specifications issued by the
          FAA pursuant to 14 C.F.R. Part 135, which licenses, certificates and
          permits are necessary for ATA to conduct its business as an air
          carrier, and for ExecuJet to conduct its business as an air taxi,
          and to the best knowledge of such counsel, no such license,
          certificate or permit is the subject of any "show cause" or other
          order of, or any proceeding before, or any investigation by, DOT or
          FAA (other than proceedings for the renewal of temporary rights), in
          which the opinion of such counsel might reasonably result in a final
          order impairing the validity of such licenses, certificates and
          permits;

               (xi) to the best knowledge of such counsel, there is no pending
          or threatened action, suit or proceeding by or before any U.S. court
          or U.S. government agency involving (A) ATA's DOT Certificates of
          Public Convenience and Necessity, ExecuJet's DOT registration, or
          either of their FAA Operating Certificates or FAA Operating
          Specifications, or (B) the Federal Aviation Act of 1958, as amended,
          and the regulations promulgated thereunder ("Aviation Law") which is
          of a character expected to impact ATA's ability to

<PAGE>

                                                                             3

          continue to do business as an air carrier or ExecuJet's ability to
          continue to do business as an air taxi and which would be required
          to be disclosed in the Registration Statement which is not
          adequately disclosed in the Prospectus;

               (xii) to the best knowledge of such counsel, no consent,
          approval, authorization, filing with, or order of any court or
          governmental agency or body under Aviation Law is required for
          consummation of the transactions contemplated herein.

          In addition, counsel shall state that such counsel or lawyers on his
staff have participated in the preparation of the Memorandum and nothing has
come to such counsel's attention that leads him to believe that the Memorandum
as of the date of the Purchase Agreement or at the Closing Date contained or
contains an untrue statement of a material fact or omitted or omits to state a
material fact necessary in order to make the statements therein in the light
of the circumstances under which they were made not misleading, except that
such counsel need express no opinion with respect to the financial statements,
schedules and other financial data included in the Memorandum.Exhibit 4.4

                                                                EXECUTION COPY

     _____________________________________________________________________

                         REGISTRATION RIGHTS AGREEMENT

                            Dated December 21, 1999

                                     among

                                 AMTRAN, INC.

                           AMERICAN TRANS AIR, INC.

                         AMBASSADAIR TRAVEL CLUB, INC.

               ATA LEISURE CORP. (formerly, ATA VACATIONS, INC.)

                              AMBER TRAVEL, INC.

                    AMERICAN TRANS AIR TRAINING CORPORATION

                       AMERICAN TRANS AIR EXECUJET, INC.

                         AMBER AIR FREIGHT CORPORATION

                        CHICAGO EXPRESS AIRLINES, INC.

                                      and

                         DEUTSCHE BANK SECURITIES INC.

     _____________________________________________________________________

<PAGE>

                         REGISTRATION RIGHTS AGREEMENT

          THIS REGISTRATION RIGHTS AGREEMENT (the "Agreement") is made and
entered into December 21, 1999, among Amtran, Inc., an Indiana corporation
(the "Company"), American Trans Air, Inc. ("ATA"), Ambassadair Travel Club,
Inc. ("Ambassadair"), ATA Leisure Corp. (formerly, ATA Vacations, Inc.)
("Leisure"), Amber Travel, Inc. ("Amber Travel"), American Trans Air Training
Corporation ("Training"), American Trans Air Execujet, Inc. ("Execujet"),
Amber Air Freight Corporation ("Amber Freight") and Chicago Express Airlines,
Inc. ("Express" and together with ATA, Ambassadair, Leisure, Amber Travel,
Training, Amber Freight and Execujet, the "Subsidiary Guarantors") and
DEUTSCHE BANK SECURITIES INC. (the "Initial Purchaser").

          This Agreement is made pursuant to the Purchase Agreement dated
December 16, 1999, among the Company, the Subsidiary Guarantors and the
Initial Purchaser (the "Purchase Agreement"), which provides for the sale by
the Company to the Initial Purchaser of an aggregate of 75,000,000 principal
amount of the Company's 10 1/2% Senior Notes due 2004 (the "Securities"). In
order to induce the Initial Purchaser to enter into the Purchase Agreement,
the Company and the Subsidiary Guarantors have agreed to provide to the
Initial Purchaser and its direct and indirect transferees the registration
rights set forth in this Agreement. The execution of this Agreement is a
condition to the closing under the Purchase Agreement.

          In consideration of the foregoing, the parties hereto agree as
follows:

          1.   Definitions.

          As used in this Agreement, the following capitalized defined terms
shall have the following meanings:

          "1933 Act" shall mean the Securities Act of 1933, as amended from
time to time.

          "1934 Act" shall mean the Securities Exchange Act of 1934, as
amended from time to time.

          "Additional Interest" shall have the meaning set forth in Section
2(e) hereof.

          "Closing Date" shall mean the Closing Date as defined in the
Purchase Agreement.

          "Company" shall have the meaning set forth in the preamble and shall
also include the Company's successors.

          "Exchange Offer" shall mean the exchange offer by the Company of
Exchange Securities for Registrable Securities pursuant to Section 2(a)
hereof.

          "Exchange Offer Registration" shall mean a registration under the
1933 Act effected pursuant to Section 2(a) hereof.

          "Exchange Offer Registration Statement" shall mean an exchange offer
registration statement on Form S-4 (or, if applicable, on another appropriate
form) and all amendments and supplements to such registration statement, in
each case including the Prospectus contained therein, all exhibits thereto and
all material incorporated by reference therein.

          "Exchange Securities" shall mean interests in the global notes
issued by the Company in, or interests in global notes issued by the Company
bearing the same CUSIP number as the global notes issued in, the registered
exchange offer for the Company's 10 1/2% Senior Notes due 2004 originally
issued on July 24, 1997 and which are jointly and severally guaranteed

                                      1

<PAGE>

by the Subsidiary Guarantors under the Indenture containing terms identical to
the Securities (except that (i) interest thereon shall accrue from the last
date on which interest was paid on the Securities or, if no such interest has
been paid, from December 21, 1999 and (ii) the Exchange Securities will not
bear legends restricting the transfer thereof or contain terms with respect to
transfer restrictions) and to be offered to Holders of Securities in exchange
for Securities pursuant to the Exchange Offer.

          "Holder" shall mean the Initial Purchaser, for so long as it owns
any Registrable Securities, and each of its successors, assigns and direct and
indirect transferees who become registered owners of Registrable Securities
under the Indenture; provided that for purposes of Sections 4 and 5 of this
Agreement, the term "Holder" shall include Participating Broker-Dealers (as
defined in Section 4(a)).

          "Indenture" shall mean the Indenture relating to the Securities
dated as of July 24, 1997, and as supplemented as of December 21, 1999,
between the Company, the Subsidiary Guarantors and First Security Bank, N.A.,
as trustee, and as the same may be amended from time to time in accordance
with the terms thereof.

          "Initial Purchaser" shall have the meaning set forth in the
preamble.

          "Majority Holders" shall mean the Holders of a majority of the
aggregate principal amount of outstanding Registrable Securities; provided
that whenever the consent or approval of Holders of a specified percentage of
Registrable Securities is required hereunder, Registrable Securities held by
the Company or any of its affiliates (as such term is defined in Rule 405
under the 1933 Act) (other than the Initial Purchaser or subsequent holders of
Registrable Securities if such subsequent holders are deemed to be such
affiliates solely by reason of their holding of such Registrable Securities)
shall not be counted in determining whether such consent or approval was given
by the Holders of such required percentage or amount.

          "Person" shall mean an individual, partnership, corporation, trust
or unincorporated organization, or a government or agency or political
subdivision thereof.

          "Prospectus" shall mean the prospectus included in a Registration
Statement, including any preliminary prospectus, and any such prospectus as
amended or supplemented by any prospectus supplement, including a prospectus
supplement with respect to the terms of the offering of any portion of the
Registrable Securities covered by a Shelf Registration Statement, and by all
other amendments and supplements to such prospectus, and in each case
including all material incorporated by reference therein.

          "Purchase Agreement" shall have the meaning set forth in the
preamble.

          "Registrable Securities" shall mean the Securities and the
guarantees thereof by the Subsidiary Guarantors; provided, however, that the
Securities and the guarantees thereof shall cease to be Registrable Securities
(i) when a Registration Statement with respect to such Securities and the
guarantees thereof shall have been declared effective under the 1933 Act and
such Securities and the guarantees thereof shall have been disposed of
pursuant to such Registration Statement, (ii) when such Securities and the
guarantees thereof have been sold to the public pursuant to Rule 144(k) (or
any similar provision then in force, but not Rule 144A) under the 1933 Act or
(iii) when such Securities and the guarantees thereof shall have ceased to be
outstanding.

          "Registration Expenses" shall mean any and all expenses incident to
performance of or compliance by the Company and the Subsidiary Guarantors with
this Agreement, including without limitation: (i) all SEC, stock exchange or
National Association of Securities Dealers, Inc. registration and filing fees,
(ii) all fees and expenses incurred in connection with compliance with state
securities or blue sky laws (including reasonable fees and disbursements of
counsel for any underwriters or Holders in connection with blue sky
qualification of any of the Exchange

                                      2

<PAGE>

Securities or Registrable Securities), (iii) all expenses of any Persons in
preparing or assisting in preparing, word processing, printing and
distributing any Registration Statement, any Prospectus, any amendments or
supplements thereto, any underwriting agreements, securities sales agreements
and other documents relating to the performance of and compliance with this
Agreement, (iv) all rating agency fees, (v) all fees and disbursements
relating to the qualification of the Indenture under applicable securities
laws, (vi) the fees and disbursements of the Trustee and its counsel, (vii)
the fees and disbursements of counsel for the Company and the Subsidiary
Guarantors and, in the case of a Shelf Registration Statement, the fees and
disbursements of one counsel for the Holders (which counsel shall be selected
by the Majority Holders and which counsel may also be counsel for the Initial
Purchaser) and (viii) the fees and disbursements of the independent public
accountants of the Company and the Subsidiary Guarantors, including the
expenses of any special audits or "cold comfort" letters required by or
incident to such performance and compliance, but excluding fees and expenses
of counsel to the underwriters (other than fees and expenses set forth in
clause (ii) above) or the Holders and underwriting discounts and commissions
and transfer taxes, if any, relating to the sale or disposition of Registrable
Securities by a Holder.

          "Registration Statement" shall mean any registration statement of
the Company and the Subsidiary Guarantors that covers any of the Exchange
Securities or Registrable Securities pursuant to the provisions of this
Agreement and all amendments and supplements to any such Registration
Statement, including post-effective amendments, in each case including the
Prospectus contained therein, all exhibits thereto and all material
incorporated by reference therein.

          "SEC" shall mean the Securities and Exchange Commission.

          "Shelf Registration" shall mean a registration effected pursuant to
Section 2(b) hereof.

          "Shelf Registration Statement" shall mean a "shelf" registration
statement of the Company and the Subsidiary Guarantors pursuant to the
provisions of Section 2(b) of this Agreement which covers all of the
Registrable Securities (but no other securities unless approved by the Holders
whose Registrable Securities are covered by such Shelf Registration Statement)
on an appropriate form under Rule 415 under the 1933 Act, or any similar rule
that may be adopted by the SEC, and all amendments and supplements to such
registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein.

          "Trustee" shall mean the trustee with respect to the Securities
under the Indenture.

          "Underwritten Registration" or "Underwritten Offering" shall mean a
registration in which Registrable Securities are sold to an Underwriter (as
hereinafter defined) for reoffering to the public.

          2.   Registration Under the 1933 Act.

          (a) To the extent not prohibited by any applicable law or applicable
interpretation of the Staff of the SEC, the Company and the Subsidiary
Guarantors shall use their best efforts, at their cost, to cause to be filed
within 45 days after the Closing Date, and have the SEC declare effective
within 150 days after the Closing Date an Exchange Offer Registration
Statement covering the offer by the Company and the Subsidiary Guarantors to
the Holders to exchange all of the Registrable Securities for Exchange
Securities and to have such Registration Statement remain effective until the
closing of the Exchange Offer. The Company and the Subsidiary Guarantors shall
commence the Exchange Offer promptly after the Exchange Offer Registration
Statement has been declared effective by the SEC and use their best efforts to
have the Exchange Offer consummated not later than 30 days after such
effective date. The Company and the Subsidiary Guarantors shall commence the
Exchange Offer by mailing the related

                                       3

<PAGE>

exchange offer Prospectus and accompanying documents to each Holder stating,
in addition to such other disclosures as are required by applicable law:

               (i) that the Exchange Offer is being made pursuant to this
          Registration Rights Agreement and that all Registrable Securities
          validly tendered will be accepted for exchange;

               (ii) the dates of acceptance for exchange (which shall be a
          period of at least 20 Business Days from the date such notice is
          mailed) (the "Exchange Dates");

               (iii) that any Registrable Security not tendered will remain
          outstanding and continue to accrue interest, but will not retain any
          rights under this Registration Rights Agreement;

               (iv) that Holders electing to have a Registrable Security
          exchanged pursuant to the Exchange Offer will be required to
          surrender such Registrable Security, together with the enclosed
          letters of transmittal, to the institution and at the address
          (located in the Borough of Manhattan, The City of New York)
          specified in the notice prior to the close of business on the last
          Exchange Date; and

               (v) that Holders will be entitled to withdraw their election,
          not later than the close of business on the last Exchange Date, by
          sending to the institution and at the address (located in the
          Borough of Manhattan, The City of New York) specified in the notice
          a telegram, telex, facsimile transmission or letter setting forth
          the name of such Holder, the principal amount of Registrable
          Securities delivered for exchange and a statement that such Holder
          is withdrawing his election to have such Securities exchanged.

               As soon as practicable after the last Exchange Date, the
Company shall:

               (i) accept for exchange Registrable Securities or portions
          thereof tendered and not validly withdrawn pursuant to the Exchange
          Offer; and

               (ii) deliver, or cause to be delivered, to the Trustee for
          cancellation all Registrable Securities or portions thereof so
          accepted for exchange by the Company and issue, and cause the
          Trustee to promptly authenticate and mail to each Holder, an
          Exchange Security equal in principal amount to the principal amount
          of the Registrable Securities surrendered by such Holder.

          The Company and the Subsidiary Guarantors shall use their best
efforts, at their cost, to complete the Exchange Offer as provided above and
shall comply with the applicable requirements of the 1933 Act, the 1934 Act
and other applicable laws and regulations in connection with the Exchange
Offer. The Exchange Offer shall not be subject to any conditions, other than
that the Exchange Offer does not violate applicable law or any applicable
interpretation of the Staff of the SEC. The Company shall inform the Initial
Purchaser of the names and addresses of the Holders to whom the Exchange Offer
is made, and the Initial Purchaser shall have the right, subject to applicable
law, to contact such Holders and otherwise facilitate the tender of
Registrable Securities in the Exchange Offer.

          (b) In the event that (i) the Company and the Subsidiary Guarantors
determine that the Exchange Offer Registration provided for in Section 2(a)
above is not available or may not be consummated as soon as practicable after
the last Exchange Date because it would violate applicable law or the
applicable interpretations of the Staff of the SEC, (ii) the Exchange Offer is
not for any other reason consummated by June 21, 2000 or (iii) the Exchange
Offer has been completed and in the opinion of counsel for the Initial
Purchaser a Registration Statement must be filed and a Prospectus must be
delivered by the Initial Purchaser in connection with any offering or sale of
Registrable Securities, the Company and the Subsidiary Guarantors shall use

                                      4

<PAGE>

their best efforts, at their cost, to cause to be filed as soon as practicable
after such determination, date or notice of such opinion of counsel is given
to the Company, as the case may be, a Shelf Registration Statement providing
for the sale by the Holders of all of the Registrable Securities and to have
such Shelf Registration Statement declared effective by the SEC within 60 days
after the date such Shelf Registration Statement was filed. The Company and
the Subsidiary Guarantors agree to use their best efforts to keep the Shelf
Registration Statement continuously effective until the second anniversary of
its effective date or such shorter period that will terminate when all of the
Registrable Securities covered by the Shelf Registration Statement have been
sold pursuant to the Shelf Registration Statement. Notwithstanding the
foregoing, during any consecutive 365- day period, the Company will have the
ability to suspend the availability of the Shelf Registration Statement for up
to two periods of up to 30 consecutive days each (except that none of such
periods may occur during the 60-day period immediately prior to the maturity
of the Securities) if the Company's Board of Directors determines in good
faith that there is a valid purpose for the suspension. The Company and the
Subsidiary Guarantors further agree to supplement or amend the Shelf
Registration Statement if required by the rules, regulations or instructions
applicable to the registration form used by the Company and the Subsidiary
Guarantors for such Shelf Registration Statement or by the 1933 Act or by any
other rules and regulations thereunder for shelf registration or if reasonably
requested by a Holder with respect to information relating to such Holder, and
to use their best efforts to cause any such amendment to become effective and
such Shelf Registration Statement to become usable as soon as thereafter
practicable. The Company and the Subsidiary Guarantors agree to furnish to the
Holders of Registrable Securities copies of any such supplement or amendment
promptly after its being used or filed with the SEC.

          (c) The Company and the Subsidiary Guarantors shall pay all
Registration Expenses in connection with the registration pursuant to Section
2(a) or Section 2(b). Each Holder shall pay all underwriting discounts and
commissions and transfer taxes, if any, relating to the sale or disposition of
such Holder's Registrable Securities pursuant to the Shelf Registration
Statement.

          (d) An Exchange Offer Registration Statement pursuant to Section
2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof
will not be deemed to have become effective unless it has been declared
effective by the SEC; provided, however, that, if, after it has been declared
effective, the offering of Registrable Securities pursuant to a Shelf
Registration Statement is interfered with by any stop order, injunction or
other order or requirement of the SEC or any other governmental agency or
court, such Registration Statement will be deemed not to have become effective
during the period of such interference until the offering of Registrable
Securities pursuant to such Registration Statement may legally resume.

          (e) If the Company and the Subsidiary Guarantors fail to comply with
the provisions of this Section 2 or if the Exchange Offer Registration
Statement or the Shelf Registration Statement fails to become effective, then
additional interest (the "Additional Interest") shall become payable in
respect of the Securities as follows:

          (i) if (A) neither the Exchange Offer Registration Statement nor the
     Shelf Registration Statement is filed with the SEC on or prior to 45 days
     after the Closing Date or (B) notwithstanding that the Company and the
     Subsidiary Guarantors have consummated or will consummate an Exchange
     Offer, the Company and the Subsidiary Guarantors are required to file a
     Shelf Registration Statement and such Shelf Registration Statement is not
     filed on or prior to the date required hereby, then commencing on the day
     after either such required filing date, Additional Interest payable in
     respect of the Securities shall accrue on the principal amount of the
     Securities at a rate of 0.5% per annum for the first 90 days immediately
     following each such filing date, such Additional Interest rate increasing
     by an additional 0.5% per annum at the beginning of each subsequent
     90-day period; or

                                       5

<PAGE>

          (ii) if (A) neither the Exchange Offer Registration Statement nor a
     Shelf Registration Statement is declared effective by the SEC on or prior
     to 150 days after the Closing Date or (B) notwithstanding that the
     Company and the Subsidiary Guarantors have consummated or will consummate
     an Exchange Offer, the Company and the Subsidiary Guarantors are required
     to file a Shelf Registration Statement and such Shelf Registration
     Statement is not declared effective by the SEC on or prior to the 60th
     day following the date such Shelf Registration Statement was filed, then,
     commencing on the day after either such required effective date,
     Additional Interest payable in respect of the Securities shall accrue on
     the principal amount of the Securities at a rate of 0.5% per annum for
     the first 90 days immediately following such date, such Additional
     Interest rate increasing by an additional 0.5% per annum at the beginning
     of each subsequent 90-day period; or

          (iii) if (A) the Company and the Subsidiary Guarantors have not
     exchanged Exchange Securities for all Registrable Securities validly
     tendered in accordance with the terms of the Exchange Offer on or prior
     to the 30th day after the date on which the Exchange Offer Registration
     Statement was declared effective or (B) if applicable, the Shelf
     Registration Statement has been declared effective and such Shelf
     Registration Statement ceases to be effective at any time prior to the
     second anniversary of its effective date (other than after such time as
     all the Registrable Securities have been disposed of thereunder), then
     Additional Interest payable in respect of the Securities shall accrue on
     the principal amount of the Securities at a rate of 0.5% per annum for
     the first 90 days commencing on (x) the 31st day after such effective
     date, in the case of (A) above, or (y) the day such Shelf Registration
     Statement ceases to be effective, in the case of (B) above, such
     Additional Interest rate increasing by an additional 0.5% per annum at
     the beginning of each subsequent 90-day period; provided, however, that
     the Additional Interest rate on the notes may not exceed in the aggregate
     2.0% per annum; provided, further, however, that (a) upon the filing of
     the Exchange Offer Registration Statement or a Shelf Registration
     Statement (in the case of clause (i) above), (b) upon the effectiveness
     of the Exchange Offer Registration Statement or a Shelf Registration
     Statement (in the case of clause (ii) above), or (c) upon the exchange of
     Exchange Securities for all Registrable Securities tendered (in the case
     of clause (iii)(A) above), or upon the effectiveness of the Shelf
     Registration Statement which had ceased to remain effective (in the case
     of clause (iii)(B) above), Additional Interest on the Securities as a
     result of such clause (or the relevant subclause thereof), as the case
     may be, shall cease to accrue.

          (f) Without limiting the remedies available to the Initial Purchaser
and the Holders, the Company and the Subsidiary Guarantors acknowledge that
any failure by the Company and the Subsidiary Guarantors to comply with their
obligations under Section 2(a) and Section 2(b) hereof may result in material
irreparable injury to the Initial Purchaser or the Holders for which there is
no adequate remedy at law, that it will not be possible to measure damages for
such injuries precisely and that, in the event of any such failure, the
Initial Purchaser or any Holder may obtain such relief as may be required to
specifically enforce the Company's and the Subsidiary Guarantors' obligations
under Section 2(a) and Section 2(b) hereof.

     3.   Registration Procedures.

          In connection with the obligations of the Company and the Subsidiary
Guarantors with respect to the Registration Statements pursuant to Section
2(a) and Section 2(b) hereof, the Company and the Subsidiary Guarantors shall
within the time periods provided for in Section 2(a) and Section 2(b) hereof,
or if no such time frame is provided for thereby, shall as expeditiously as
possible:

          (a) prepare and file with the SEC a Registration Statement on the
     appropriate form under the 1933 Act, which form (x) shall be selected by
     the Company and the Subsidiary Guarantors and (y) shall, in the case of a
     Shelf Registration, be available for

                                       6

<PAGE>

     the sale of the Registrable Securities by the selling Holders thereof and
     (z) shall comply as to form in all material respects with the
     requirements of the applicable form and include all financial statements
     required by the SEC to be filed therewith, and use its best efforts to
     cause such Registration Statement to become effective and remain
     effective in accordance with Section 2 hereof;

          (b) prepare and file with the SEC such amendments and post-effective
     amendments to each Registration Statement as may be necessary to keep
     such Registration Statement effective for the applicable period and cause
     each Prospectus to be supplemented by any required prospectus supplement
     and, as so supplemented, to be filed pursuant to Rule 424 under the 1933
     Act; to keep each Prospectus current during the period described under
     Section 4(3) and Rule 174 under the 1933 Act that is applicable to
     transactions by brokers or dealers with respect to the Registrable
     Securities or Exchange Securities;

          (c) in the case of a Shelf Registration, furnish to each Holder of
     Registrable Securities, to counsel for the Initial Purchaser, to counsel
     for the Holders and to each Underwriter of an Underwritten Offering of
     Registrable Securities, if any, without charge, as many copies of each
     Prospectus, including each preliminary Prospectus, and any amendment or
     supplement thereto and such other documents as such Holder or Underwriter
     may reasonably request, in order to facilitate the public sale or other
     disposition of the Registrable Securities; and the Company and each of
     the Subsidiary Guarantors consent to the use of such Prospectus and any
     amendment or supplement thereto in accordance with applicable law by each
     of the selling holders of Registrable Securities and any such
     Underwriters in connection with the offering and sale of the Registrable
     Securities covered by and in the manner described in such Prospectus or
     any amendment or supplement thereto in accordance with applicable law;

          (d) use its best efforts to register or qualify the Registrable
     Securities under all applicable state securities or "blue sky" laws of
     such jurisdictions within the United States as any Holder of Registrable
     Securities covered by a Registration Statement shall reasonably request
     in writing by the time the applicable Registration Statement is declared
     effective by the SEC, to cooperate with such Holders in connection with
     any filings required to be made with the National Association of
     Securities Dealers, Inc. and do any and all other acts and things which
     may be reasonably necessary or advisable to enable such Holder to
     consummate the disposition in each such jurisdiction of such Registrable
     Securities owned by such Holder; provided, however, that neither the
     Company nor any Subsidiary Guarantor shall be required to (i) qualify as
     a foreign corporation or as a dealer in securities in any jurisdiction
     where it would not otherwise be required to qualify but for this Section
     3(d), (ii) file any general consent to service of process or (iii)
     subject itself to taxation in any such jurisdiction if it is not so
     subject;

          (e) in the case of a Shelf Registration, notify each Holder of
     Registrable Securities, counsel for the Holders and counsel for the
     Initial Purchaser promptly and, if requested by any such Holder or
     counsel, confirm such advice in writing (i) when a Registration Statement
     has become effective and when any post-effective amendment thereto has
     been filed and becomes effective, (ii) of any request by the SEC or any
     state securities authority for amendments and supplements to a
     Registration Statement and Prospectus or for additional information after
     the Registration Statement has become effective, (iii) of the issuance by
     the SEC or any state securities authority of any stop order suspending
     the effectiveness of a Registration Statement or the initiation of any
     proceedings for that purpose, (iv) if, between the effective date of a
     Registration Statement and the closing of any sale of Registrable
     Securities covered thereby, the representations and warranties of the
     Company and each Subsidiary Guarantor contained in any underwriting
     agreement, securities sales agreement or other similar agreement, if any,
     relating to the offering cease to be true and correct in all material
     respects or if the

                                       7

<PAGE>

     Company or any Subsidiary Guarantor receives any notification with
     respect to the suspension of the qualification of the Registrable
     Securities for sale in any jurisdiction or the initiation of any
     proceeding for such purpose, (v) of the happening of any event during the
     period a Shelf Registration Statement is effective which makes any
     statement made in such Registration Statement or the related Prospectus
     untrue in any material respect or which requires the making of any
     changes in such Registration Statement or Prospectus in order to make the
     statements therein not misleading and (vi) of any determination by the
     Company or any Subsidiary Guarantor that a post-effective amendment to a
     Registration Statement would be appropriate;

          (f) make every reasonable effort to obtain the withdrawal of any
     order suspending the effectiveness of a Registration Statement at the
     earliest possible moment and provide immediate notice to each Holder of
     the withdrawal of any such order;

          (g) in the case of a Shelf Registration, furnish to each Holder of
     Registrable Securities, without charge, at least one conformed copy of
     each Registration Statement and any post-effective amendment thereto
     (without documents incorporated therein by reference or exhibits thereto,
     unless requested);

          (h) in the case of a Shelf Registration, cooperate with the selling
     Holders of Registrable Securities to facilitate the timely preparation
     and delivery of certificates representing Registrable Securities to be
     sold and not bearing any restrictive legends and enable such Registrable
     Securities to be in such denominations (consistent with the provisions of
     the Indenture) and registered in such names as the selling Holders may
     reasonably request at least two business days prior to the closing of any
     sale of Registrable Securities;

          (i) in the case of a Shelf Registration, upon the occurrence of any
     event contemplated by Section 3(e)(v) hereof, use its best efforts to
     prepare and file with the SEC a supplement or post-effective amendment to
     a Registration Statement or the related Prospectus or any document
     incorporated therein by reference or file any other required document so
     that, as thereafter delivered to the purchasers of the Registrable
     Securities, such Prospectus will not contain any untrue statement of a
     material fact or omit to state a material fact necessary to make the
     statements therein, in light of the circumstances under which they were
     made, not misleading. The Company and each of the Subsidiary Guarantors
     agree to notify the Holders to suspend use of the Prospectus as promptly
     as practicable after the occurrence of such an event, and the Holders
     hereby agree to suspend use of the Prospectus until the Company has
     amended or supplemented the Prospectus to correct such misstatement or
     omission;

          (j) a reasonable time prior to the filing of any Registration
     Statement, any Prospectus, any amendment to a Registration Statement or
     amendment or supplement to a Prospectus or any document which is to be
     incorporated by reference into a Registration Statement or a Prospectus
     after initial filing of a Registration Statement, provide copies of such
     document to the Initial Purchaser and its counsel (and, in the case of a
     Shelf Registration Statement, the Holders and their counsel) and make
     such of the representatives of the Company and the Subsidiary Guarantors
     as shall be reasonably requested by the Initial Purchaser or its counsel
     (and, in the case of a Shelf Registration Statement, the Holders or their
     counsel) available for discussion of such document, and shall not at any
     time file or make any amendment to the Registration Statement, any
     Prospectus or any amendment of or supplement to a Registration Statement
     or a Prospectus or any document which is to be incorporated by reference
     into a Registration Statement or a Prospectus, of which the Initial
     Purchaser and its counsel (and, in

                                       8

<PAGE>

     the case of a Shelf Registration Statement, the Holders and their
     counsel) shall not have previously been advised and furnished a copy or
     to which the Initial Purchaser or its counsel (and, in the case of a
     Shelf Registration Statement, the Holders or their counsel) shall
     reasonably object;

          (k) in the case of a Shelf Registration, obtain a CUSIP number for
     all Registrable Securities not later than the effective date of the Shelf
     Registration Statement;

          (l) cause the Indenture to be qualified under the Trust Indenture
     Act of 1939, as amended (the "TIA"), in connection with the registration
     of the Exchange Securities or Registrable Securities, as the case may be,
     cooperate with the Trustee and the Holders to effect such changes to the
     Indenture as may be required for the Indenture to be so qualified in
     accordance with the terms of the TIA and execute, and use its best
     efforts to cause the Trustee to execute, all documents as may be required
     to effect such changes and all other forms and documents required to be
     filed with the SEC to enable the Indenture to be so qualified in a timely
     manner;

          (m) in the case of a Shelf Registration, make available for
     inspection by a representative of the Holders of the Registrable
     Securities, any Underwriter participating in any disposition pursuant to
     such Shelf Registration Statement, and attorneys and accountants
     designated by the Holders, at reasonable times and in a reasonable
     manner, all financial and other records, pertinent documents and
     properties of the Company and the Subsidiary Guarantors, and cause the
     respective officers, directors and employees of the Company and the
     Subsidiary Guarantors to supply all information reasonably requested by
     any such representative, Underwriter, attorney or accountant in
     connection with a Shelf Registration Statement;

          (n) in the case of a Shelf Registration, use their best efforts to
     cause all Registrable Securities to be listed on any securities exchange
     or any automated quotation system on which similar securities issued by
     the Company or any of the Subsidiary Guarantors are then listed if
     requested by the Majority Holders, to the extent such Registrable
     Securities satisfy applicable listing requirements; provided, however,
     that the Company's and the Guarantors' obligations pursuant to this
     Section 3(n) shall terminate upon (i) the approval for listing of the
     Notes by the Luxembourg Stock Exchange, the London Stock Exchange or any
     other securities exchange or automated quotation system designated by the
     Majority Holders or (ii) the rejection by any such exchange of the Notes
     for such listing, if it is established that such rejection is due to
     actions or omissions of the Initial Purchaser or any of the Holders;

          (o) use their best efforts to cause the Exchange Securities or
     Registrable Securities, as the case may be, to be rated by two nationally
     recognized statistical rating organizations (as such term is defined in
     Rule 436(g)(2) under the 1933 Act);

          (p) if reasonably requested by any Holder of Registrable Securities
     covered by a Registration Statement, (i) promptly incorporate in a
     Prospectus supplement or post-effective amendment such information with
     respect to such Holder as such Holder reasonably requests to be included
     therein and (ii) make all required filings of such Prospectus supplement
     or such post-effective amendment as soon as the Company has received
     notification of the matters to be incorporated in such filing; and

          (q) in the case of a Shelf Registration, enter into such customary
     agreements and take all such other actions in connection therewith
     (including those requested by the Holders of a majority of the
     Registrable Securities being sold) in order to expedite or facilitate the
     disposition of such Registrable Securities including, but not limited to,
     an Underwritten Offering and in such connection, (i) to the extent
     possible, make such representations and warranties to the Holders and any
     Underwriters of such Registrable Securities with respect to the business
     of the Company and the Subsidiary Guarantors and their respective
     subsidiaries, the Registration Statement, Prospectus and documents

                                       9

<PAGE>

     incorporated by reference or deemed incorporated by reference, if any, in
     each case, in form, substance and scope as are customarily made by
     issuers to underwriters in underwritten offerings and confirm the same if
     and when requested, (ii) obtain opinions of counsel to the Company and
     the Subsidiary Guarantors (which counsel and opinions, in form, scope and
     substance, shall be reasonably satisfactory to the Holders and such
     Underwriters and their respective counsel) addressed to each selling
     Holder and Underwriter of Registrable Securities, covering the matters
     customarily covered in opinions requested in underwritten offerings,
     (iii) obtain "cold comfort" letters from the independent certified public
     accountants of the Company and the Subsidiary Guarantors (and, if
     necessary, any other certified public accountant of any subsidiary of the
     Company, or of any business acquired by the Company or any of the
     Subsidiary Guarantors for which financial statements and financial data
     are required to be included in the Registration Statement) addressed to
     each selling Holder and Underwriter of Registrable Securities, such
     letters to be in customary form and covering matters of the type
     customarily covered in "cold comfort" letters in connection with
     underwritten offerings, and (iv) deliver such documents and certificates
     as may be reasonably requested by the Holders of a majority in principal
     amount of the Registrable Securities being sold or by the Underwriters,
     and which are customarily delivered in underwritten offerings, to
     evidence the continued validity of the representations and warranties of
     the Company and the Subsidiary Guarantors made pursuant to clause (i)
     above and to evidence compliance with any customary conditions contained
     in an underwriting agreement.

          In the case of a Shelf Registration Statement, the Company and the
Subsidiary Guarantors may require each Holder of Registrable Securities to
furnish to the Company and the Subsidiary Guarantors such information
regarding the Holder and the proposed distribution by such Holder of such
Registrable Securities as the Company and the Subsidiary Guarantors may from
time to time reasonably request in writing.

          In the case of a Shelf Registration Statement, each Holder agrees
that, upon receipt of any notice from the Company and the Subsidiary
Guarantors of the happening of any event of the kind described in Section
3(e)(v) hereof, such Holder will forthwith discontinue disposition of
Registrable Securities pursuant to a Registration Statement until such
Holder's receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 3(i) hereof, and, if so directed by the Company, such
Holder will deliver to the Company (at its expense) all copies in its
possession, other than permanent file copies then in such Holder's possession,
of the Prospectus covering such Registrable Securities current at the time of
receipt of such notice. If the Company shall give any such notice to suspend
the disposition of Registrable Securities pursuant to a Registration
Statement, the Company shall extend the period during which the Registration
Statement shall be maintained effective pursuant to this Agreement by the
number of days during the period from and including the date of the giving of
such notice to and including the date when the Holders shall have received
copies of the supplemented or amended Prospectus necessary to resume such
dispositions. The Company may give any such notice only twice during any 365
day period and any such suspensions may not exceed 30 days for each suspension
and there may not be more than two suspensions in effect during any 365 day
period.

          The Holders of Registrable Securities covered by a Shelf
Registration Statement who desire to do so may sell such Registrable
Securities in an Underwritten Offering. In any such Underwritten Offering, the
investment banker or investment bankers and manager or managers (the
"Underwriters") that will administer the offering will be selected by the
Majority Holders of the Registrable Securities included in such offering.

     4.   Participation of Broker-Dealers in Exchange
Offer.

          (a) The Staff of the SEC has taken the position that any
broker-dealer that receives Exchange Securities for its own account in the
Exchange Offer in exchange for Securities that were acquired by such
broker-dealer as a result of market-making or other trading activities (a

                                      10

<PAGE>

"Participating Broker-Dealer"), may be deemed to be an "underwriter" within
the meaning of the 1933 Act and must deliver a prospectus meeting the
requirements of the 1933 Act in connection with any resale of such Exchange
Securities.

          The Company and the Subsidiary Guarantors understand that it is the
Staff's position that if the Prospectus contained in the Exchange Offer
Registration Statement includes a plan of distribution containing a statement
to the above effect and the means by which Participating Broker-Dealers may
resell the Exchange Securities, without naming the Participating
Broker-Dealers or specifying the amount of Exchange Securities owned by them,
such Prospectus may be delivered by Participating Broker-Dealers to satisfy
their prospectus delivery obligation under the 1933 Act in connection with
resales of Exchange Securities for their own accounts, so long as the
Prospectus otherwise meets the requirements of the 1933 Act.

          (b) In light of the above, notwithstanding the other provisions of
this Agreement, the Company and the Subsidiary Guarantors agree that the
provisions of this Agreement as they relate to a Shelf Registration shall also
apply to an Exchange Offer Registration to the extent, and with such
reasonable modifications thereto as may be, reasonably requested by the
Initial Purchaser or by one or more Participating Broker-Dealers, in each case
as provided in clause (ii) below, in order to expedite or facilitate the
disposition of any Exchange Securities by Participating Broker-Dealers
consistent with the positions of the Staff recited in Section 4(a) above;
provided that:

          (i) the Company and the Subsidiary Guarantors shall not be required
     to amend or supplement the Prospectus contained in the Exchange Offer
     Registration Statement, as would otherwise be contemplated by Section
     3(i), for a period exceeding 180 days after the last Exchange Date (as
     such period may be extended pursuant to the penultimate paragraph of
     Section 3 of this Agreement) and Participating Broker-Dealers shall not
     be authorized by the Company or the Subsidiary Guarantors to deliver and
     shall not deliver such Prospectus after such period in connection with
     the resales contemplated by this Section 4; and

          (ii) the application of the Shelf Registration procedures set forth
     in Section 3 of this Agreement to an Exchange Offer Registration, to the
     extent not required by the positions of the Staff of the SEC or the 1933
     Act and the rules and regulations thereunder, will be in conformity with
     the reasonable request to the Company and the Subsidiary Guarantors by
     the Initial Purchaser or with the reasonable request in writing to the
     Company and the Subsidiary Guarantors by one or more broker-dealers who
     certify to the Initial Purchaser, the Company and the Subsidiary
     Guarantors in writing that they anticipate that they will be
     Participating Broker-Dealers; and provided further that, in connection
     with such application of the Shelf Registration procedures set forth in
     Section 3 to an Exchange Offer Registration, the Company and the
     Subsidiary Guarantors shall be obligated (x) to deal only with one entity
     representing the Participating Broker-Dealers, which shall be the Initial
     Purchaser unless it elects not to act as such representative, (y) to pay
     the fees and expenses of only one counsel representing the Participating
     Broker-Dealers, which shall be counsel to the Initial Purchaser unless
     such counsel elects not to so act and (z) to cause to be delivered only
     one, if any, "cold comfort" letter with respect to the Prospectus in the
     form existing on the last Exchange Date and with respect to each
     subsequent amendment or supplement, if any, effected during the period
     specified in clause (i) above.

          (c) The Initial Purchaser shall have no liability to the Company,
any Subsidiary Guarantor or any Holder with respect to any request that they
may make pursuant to Section 4(b) above.

                                      11

<PAGE>

          5. Indemnification and Contribution.

          (a) The Company and each of the Subsidiary Guarantors, jointly and
severally, agree to indemnify and hold harmless the Initial Purchaser, each
Holder and each person, if any, who controls the Initial Purchaser or any
Holder within the meaning of either Section 15 of the 1933 Act or Section 20
of the 1934 Act, or is under common control with, or is controlled by, the
Initial Purchaser or any Holder, from and against all losses, claims, damages
and liabilities (including, without limitation, any legal or other expenses
reasonably incurred by the Initial Purchaser, any Holder or any such
controlling or affiliated person in connection with defending or investigating
any such action or claim) caused by any untrue statement or alleged untrue
statement of a material fact contained in any Registration Statement (or any
amendment thereto) pursuant to which Exchange Securities or Registrable
Securities were registered under the 1933 Act, including all documents
incorporated therein by reference, or caused by any omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, or caused by any
untrue statement or alleged untrue statement of a material fact contained in
any Prospectus (as amended or supplemented if the Company and the Subsidiary
Guarantors shall have furnished any amendments or supplements thereto), or
caused by any omission or alleged omission to state therein a material fact
necessary to make the statements therein in light of the circumstances under
which they were made not misleading, except insofar as such losses, claims,
damages or liabilities are caused by any such untrue statement or omission or
alleged untrue statement or omission based upon information relating to the
Initial Purchaser or any Holder furnished to the Company and the Subsidiary
Guarantors in writing by the Initial Purchaser or any selling Holder expressly
for use therein; provided, however, that the foregoing indemnity agreement
with respect to any preliminary prospectus contained in any such Registration
Statement shall not inure to the benefit of any Holder from whom the person
asserting any such losses, claims, damages or liabilities purchased
Securities, or any person controlling such Holder if a copy of the Prospectus
(as then aended or supplemented if any Guarantor or the Company shall have
furnished any amendments or supplements thereto) was not sent or given by or
on behalf of such Holder to such person, at or prior to the written
confirmation of the sale of the Securities to such person, and if the
Prospectus (as so amended or supplemented) would have cured the defect giving
rise to such losses, claims, damages or liabilities, unless such failure was
the result of noncompliance by any Guarantor or the Company with Section 3(j)
hereof. In connection with any Underwritten Offering permitted by Section 3,
each of the Company and each of the Subsidiary Guarantors will also indemnify
the Underwriters, if any, selling brokers, dealers and similar securities
industry professionals participating in the distribution, their officers and
directors and each Person who controls such Persons (within the meaning of the
Securities Act and the Exchange Act) to the same extent as provided above with
respect to the indemnification of the Holders, if requested in connection with
any Registration Statement.

          (b) Each Holder agrees, severally and not jointly, to indemnify and
hold harmless the Company, the Subsidiary Guarantors, the Initial Purchaser
and the other selling Holders, and each of their respective directors,
officers who sign the Registration Statement and each Person, if any, who
controls the Company, the Subsidiary Guarantors, the Initial Purchaser and any
other selling Holder within the meaning of either Section 15 of the 1933 Act
or Section 20 of the 1934 Act to the same extent as the foregoing indemnity
from the Company and each Subsidiary Guarantor to the Initial Purchaser and
the Holders, but only with reference to information relating to such Holder
furnished to the Company and the Subsidiary Guarantors in writing by such
Holder expressly for use in any Registration Statement (or any amendment
thereto) or any Prospectus (or any amendment or supplement thereto).

          (c) In case any proceeding (including any governmental
investigation) shall be instituted involving any person in respect of which
indemnity may be sought pursuant to either paragraph (a) or paragraph (b)
above, such person (the "indemnified party") shall promptly notify the person
against whom such indemnity may be sought (the "indemnifying party") in
writing and the indemnifying party, upon request of the indemnified party,
shall retain counsel reasonably

                                      12

<PAGE>

satisfactory to the indemnified party to represent the indemnified party and
any others the indemnifying party may designate in such proceeding and shall
pay the fees and disbursements of such counsel related to such proceeding. In
any such proceeding, any indemnified party shall have the right to retain its
own counsel, but the fees and expenses of such counsel shall be at the expense
of such indemnified party unless (i) the indemnifying party and the
indemnified party shall have mutually agreed to the retention of such counsel
or (ii) the named parties to any such proceeding (including any impleaded
parties) include both the indemnifying party and the indemnified party and
representation of both parties by the same counsel would be inappropriate due
to actual or potential differing interests between them. It is understood that
the indemnifying party shall not, in connection with any proceeding or related
proceedings in the same jurisdiction, be liable for (a) the fees and expenses
of more than one separate firm (in addition to any local counsel) for the
Initial Purchaser and all persons, if any, who control the Initial Purchaser
within the meaning of either Section 15 of the 1933 Act or Section 20 of the
1934 Act, and (b) the fees and expenses of more than one separate firm (in
addition to any local counsel) for the Company and the Subsidiary Guarantors,
their directors, their officers who sign the Registration Statement and each
person, if any, who controls the Company or any of the Subsidiary Guarantors
within the meaning of either such Section and (c) the fees and expenses of
more than one separate firm (in addition to any local counsel) for all Holders
and all persons, if any, who control any Holders within the meaning of either
such Section, and that all such fees and expenses shall be reimbursed as they
are incurred. In such case involving the Initial Purchaser and persons who
control the Initial Purchaser, such firm shall be designated in writing by the
Initial Purchaser. In such case involving the Holders and such persons who
control Holders, such firm shall be designated in writing by the Majority
Holders. In all other cases, such firm shall be designated by the Company and
the Subsidiary Guarantors. The indemnifying party shall not be liable for any
settlement of any proceeding effected without its written consent but, if
settled with such consent or if there be a final judgment for the plaintiff,
the indemnifying party agrees to indemnify the indemnified party from and
against any loss or liability by reason of such settlement or judgment.
Notwithstanding the foregoing sentence, if at any time an indemnified party
shall have requested an indemnifying party to reimburse the indemnified party
for fees and expenses of counsel as contemplated by the second and third
sentences of this paragraph, the indemnifying party agrees that it shall be
liable for any settlement of any proceeding effected without its written
consent if (i) such settlement is entered into more than 30 days after receipt
by such indemnifying party of the aforesaid request and (ii) such indemnifying
party shall not have reimbursed the indemnified party for such fees and
expenses of counsel in accordance with such request prior to the date of such
settlement. No indemnifying party shall, without the prior written consent of
the indemnified party, effect any settlement of any pending or threatened
proceeding in respect of which such indemnified party is or could have been a
party and indemnity could have been sought hereunder by such indemnified
party, unless such settlement includes an unconditional release of such
indemnified party from all liability on claims that are the subject matter of
such proceeding.

          (d) If the indemnification provided for in paragraph (a) or
paragraph (b) of this Section 4 is unavailable to an indemnified party or
insufficient in respect of any losses, claims, damages or liabilities, then
each indemnifying party under such paragraph, in lieu of indemnifying such
indemnified party thereunder, shall contribute to the amount paid or payable
by such indemnified party as a result of such losses, claims, damages or
liabilities in such proportion as is appropriate to reflect the relative fault
of the indemnifying party or parties on the one hand and of the indemnified
party or parties on the other hand in connection with the statements or
omissions that resulted in such losses, claims, damages or liabilities, as
well as any other relevant equitable considerations. The relative fault of the
Company, the Subsidiary Guarantors and the Holders shall be determined by
reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the Company or the Subsidiary
Guarantors or by the Holders and the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission. The Holders' respective obligations to contribute pursuant to this
Section 5(d) are several in proportion to the respective number of Registrable
Securities of such Holder that were registered pursuant to a Registration
Statement.

                                      13

<PAGE>

          (e) The Company, each Subsidiary Guarantor and each Holder agree
that it would not be just or equitable if contribution pursuant to this
Section 5 were determined by pro rata allocation or by any other method of
allocation that does not take account of the equitable considerations referred
to in paragraph (d) above. The amount paid or payable by an indemnified party
as a result of the losses, claims, damages and liabilities referred to in
paragraph (d) above shall be deemed to include, subject to the limitations set
forth above, any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such
action or claim. Notwithstanding the provisions of this Section 5, no Holder
shall be required to indemnify or contribute any amount in excess of the
amount by which the total price at which Registrable Securities were sold by
such Holder exceeds the amount of any damages that such Holder has otherwise
been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the 1933 Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation. The remedies provided for in this Section 5 are not
exclusive and shall not limit any rights or remedies which may otherwise be
available to any indemnified party at law or in equity.

          The indemnity and contribution provisions contained in this Section
5 shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of
the Initial Purchaser, any Holder or any person controlling the Initial
Purchaser or any Holder, or by or on behalf of the Company or any Subsidiary
Guarantor, its officers or directors or any person controlling the Company or
any Subsidiary Guarantor, (iii) acceptance of any of the Exchange Securities
and (iv) any sale of Registrable Securities pursuant to a Shelf Registration
Statement.

     6.   Miscellaneous.

          (a) No Inconsistent Agreements. Neither the Company nor any
Subsidiary Guarantor has entered into, and on or after the date of this
Agreement will not enter into, any agreement which is inconsistent with the
rights granted to the Holders of Registrable Securities in this Agreement or
otherwise conflicts with the provisions hereof. The rights granted to the
Holders hereunder do not in any way conflict with and are not inconsistent
with the rights granted to the holders of the Company's or the Subsidiary
Guarantors' other issued and outstanding securities under any such agreements.

          (b) Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given unless the Company and the Subsidiary Guarantors have
obtained the written consent of Holders of at least a majority in aggregate
principal amount of the outstanding Registrable Securities affected by such
amendment, modification, supplement, waiver or consent; provided, however,
that no amendment, modification, supplement, waiver or consents to any
departure from the provisions of Section 5 hereof shall be effective as
against any Holder of Registrable Securities unless consented to in writing by
such Holder.

          (c) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, registered
first-class mail, telex, telecopier, or any courier guaranteeing overnight
delivery (i) if to a Holder, at the most current address given by such Holder
to the Company by means of a notice given in accordance with the provisions of
this Section 6(c), which address initially is, with respect to the Initial
Purchaser, the address set forth in the Purchase Agreement; and (ii) if to the
Company and the Subsidiary Guarantors, initially at the Company's and
Subsidiary Guarantors' addresses set forth in the Purchase Agreement and
thereafter at such other addresses, notice of which is given in accordance
with the provisions of this Section 6(c).

                                      14

<PAGE>

          All such notices and communications shall be deemed to have been
duly given: at the time delivered by hand, if personally delivered; five
business days after being deposited in the mail, postage prepaid, if mailed;
when answered back, if telexed; when receipt is acknowledged, if telecopied;
and on the next business day if timely delivered to an air courier
guaranteeing overnight delivery.

          Copies of all such notices, demands, or other communications shall
be concurrently delivered by the person giving the same to the Trustee, at the
address specified in the Indenture.

          (d) Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors, assigns and transferees of each
of the parties, including, without limitation and without the need for an
express assignment, subsequent Holders; provided that nothing herein shall be
deemed to permit any assignment, transfer or other disposition of Registrable
Securities in violation of the terms of the Purchase Agreement. If any
transferee of any Holder shall acquire Registrable Securities, in any manner,
whether by operation of law or otherwise, such Registrable Securities shall be
held subject to all of the terms of this Agreement, and by taking and holding
such Registrable Securities such person shall be conclusively deemed to have
agreed to be bound by and to perform all of the terms and provisions of this
Agreement and such person shall be entitled to receive the benefits hereof.
The Initial Purchaser (in its capacity as Initial Purchaser) shall have no
liability or obligation to the Company or any Subsidiary Guarantor with
respect to any failure by a Holder to comply with, or any breach by any Holder
of, any of the obligations of such Holder under this Agreement.

          (e) Purchases and Sales of Notes. The Company and each Subsidiary
Guarantor shall not, and shall use their best efforts to cause their
affiliates (as defined in Rule 405 under the 1933 Act) not to, purchase and
then resell or otherwise transfer any Securities.

          (f) Third Party Beneficiary. The Holders shall be third party
beneficiaries to the agreements made hereunder among the Company, the
Subsidiary Guarantors, and the Initial Purchaser, and shall have the right to
enforce such agreements directly to the extent it deems such enforcement
necessary or advisable to protect its rights or the rights of Holders
hereunder.

          (g) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

          (h) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

          (i) Governing Law. This Agreement shall be governed by and construed
in accordance with the internal laws of the State of New York.

          (j) Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstance,
is held invalid, illegal or unenforceable, the validity, legality and
enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired
thereby.

                                      15

<PAGE>

          IN WITNESS WHEREOF, the parties have executed this Agreement as of
the date first written above.

                                           AMTRAN, INC.

                                           By Kenneth K. Wolff
                                              ---------------------------------
                                             Name:  Kenneth K. Wolff
                                             Title: Executive Vice President &
                                                    CFO

                                           AMERICAN TRANS AIR, INC.

                                            By Kenneth K. Wolff
                                              ---------------------------------
                                             Name:  Kenneth K. Wolff
                                             Title: Executive Vice President &
                                                    CFO

                                           AMBASSADAIR TRAVEL CLUB, INC.

                                            By Kenneth K. Wolff
                                              ---------------------------------
                                             Name:  Kenneth K. Wolff
                                             Title: Executive Vice President &
                                                    CFO

                                           ATA LEISURE CORP. (formerly
                                           ATA VACATIONS, INC.)

                                            By Kenneth K. Wolff
                                              ---------------------------------
                                             Name:  Kenneth K. Wolff
                                             Title: Executive Vice President &
                                                    CFO

                                           AMBER TRAVEL, INC.

                                            By Kenneth K. Wolff
                                              ---------------------------------
                                             Name:  Kenneth K. Wolff
                                             Title: Executive Vice President &
                                                    CFO

                                      16

<PAGE>

                                           AMERICAN TRANS AIR TRAINING
                                           CORPORATION

                                            By Kenneth K. Wolff
                                              ---------------------------------
                                             Name:  Kenneth K. Wolff
                                             Title: Executive Vice President &
                                                    CFO

                                           AMERICAN TRANS AIR EXECUJET,
                                           INC.

                                            By Kenneth K. Wolff
                                              ---------------------------------
                                             Name:  Kenneth K. Wolff
                                             Title: Executive Vice President &
                                                    CFO

                                           AMBER AIR FREIGHT CORPORATION

                                            By Kenneth K. Wolff
                                              ---------------------------------
                                             Name:  Kenneth K. Wolff
                                             Title: Executive Vice President &
                                                    CFO

                                           CHICAGO EXPRESS AIRLINES, INC.

                                           By Stephen Cooper
                                              ---------------------------------
                                             Name:  Steven Cooper
                                             Title: Acting President

Confirmed and accepted as of
the date first above written:

DEUTSCHE BANK SECURITIES INC.

By /s/ Khawer Ali
  -----------------------------------
  Name:  Khawer Ali
  Title: Director

By /s/ John Perra
  -----------------------------------
  Name:  John Perra
  Title: Associate

                                      17

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