Document:

ASSET
		PURCHASE AGREEMENT

	 

	 

	 dated as
		of [__________], 2006

	 

	 

	 among

	 

	 

	 GENERAL
		ELECTRIC CAPITAL CORPORATION,

	 

	 

	 THE
		OTHER SELLERS LISTED ON SCHEDULE 1 HERETO

	 

	 and

	 

	 GENESIS
		FUNDING LIMITED

	  

	  

	 
		
	 

	 

	 
		 
	 

	 

	 
 
	  

	 TABLE
		OF CONTENTS

	  

	 
			 	 	
				Page

				
	
				1.

					
				INTERPRETATION

					
				1

				
	
				2.

					
				SALE AND
				  PURCHASE
 	
				14

				
	
				3.

					
				DELIVERY
				  AND ACCEPTANCE
 	
				16

				
	
				4.

					
				SUBSTITUTE
				  AND UNDELIVERED AIRCRAFT
 	
				20

				
	
				5.

					
				PAYMENTS

					
				22

				
	
				6.

					
				CONDITIONS
				  PRECEDENT - SELLER
 	
				26

				
	
				7.

					
				CONDITIONS
				  PRECEDENT - PURCHASER
 	
				29

				
	
				8.

					
				REPRESENTATIONS
				  AND WARRANTIES OF GECC AND EACH OTHER SELLER
 	
				41

				
	
				9.

					
				REPRESENTATIONS
				  AND WARRANTIES OF THE PURCHASER
 	
				56

				
	
				10.

					
				INDEMNITY

					
				58

				
	
				11.

					
				TAXES

					
				59

				
	
				12.

					
				WARRANTIES
				  AND DISCLAIMERS
 	
				63

				
	
				13.

					
				ASSIGNMENT

					
				64

				
	
				14.

					
				MISCELLANEOUS

					
				64

				
	
				15.

					
				SUBROGATION

					
				67

				
	
				16.

					
				LIMITED
				  RECOURSE
 	
				67

				

 

	 
		 

		
		  
		

		

		
 
		 
LIST OF
		ATTACHMENTS:

	  

	 
		
		  	
				  EXHIBIT
					 A-1
 	
				  -

				  	
				  Form of
					 Assignment of Beneficial Interest
 
	
				  EXHIBIT
					 A-2
 	
				  -

				  	
				  Form of
					 Trust Assignment and Assumption Agreement
 
	
				  EXHIBIT
					 A-3
 	
				  -

				  	
				  Form of
					 Irish Law Share Transfer Form
 
	
				  EXHIBIT
					 B
 	
				  -

				  	
				  Form of
					 Bill of Sale
 
	
				  EXHIBIT
					 C
 	
				  -

				  	
				  Form of
					 Acknowledgement of Delivery
 
	
				  EXHIBIT
					 D
 	
				  -

				  	
				  Form of
					 Guaranty
 
	
				  EXHIBIT
					 E-1
 	
				  -

				  	
				  Conditions
					 Precedent - Aircraft Delivery (BI Aircraft)
 
	
				  EXHIBIT
					 E-2
 	
				  -

				  	
				  Conditions
					 Precedent - Aircraft Delivery (Independent Aircraft)
 
	
				  EXHIBIT
					 F
 	
				  -

				  	
				  Form of
					 Servicing Agreement
 
	
				  EXHIBIT
					 G
 	
				  -

				  	
				  Form of
					 Management Agreement
 
	
				  SCHEDULE
					 1
 	
				  -

				  	
				  Sellers
					 and Related Aircraft
 
	
				  SCHEDULE
					 2
 	
				  -

				  	
				  Aircraft
					 Information
 
	
				  SCHEDULE
					 3
 	
				  -

				  	
				  Documents
					 and Conditions - Delivery
 
	
				  SCHEDULE
					 4
 	
				  -

				  	
				  Documents
					 and Conditions - Post-Delivery
 
	
				  SCHEDULE
					 5
 	
				  -

				  	
				  Jurisdiction
					 of Incorporation or Organization
 
	
				  SCHEDULE
					 6
 	
				  -

				  	
				  Genesis
					 Funding Entities
 
	
				  SCHEDULE
					 7
 	
				  -

				  	
				  Debt
					 Allocation Amounts and Equity Allocation Amounts
 

 
 

	 
		 

		
		  ii
		

		

		
 
		 
This
		ASSET PURCHASE AGREEMENT (this “Agreement”)
		is dated as of [__________], 2006 among: (i) GENERAL ELECTRIC CAPITAL
		CORPORATION, a Delaware corporation; (ii) THE OTHER SELLERS LISTED ON
		SCHEDULE 1 HERETO; and (iii) GENESIS FUNDING LIMITED, a Bermuda exempted
		company.

	  

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

	  

	 
			
				1.

					
				INTERPRETATION

				

 

	  

	 
			
				1.1

					
				For all
				  purposes of this Agreement, the following terms shall have the following
				  meanings:
 

 

	  

	 “Acknowledgement
		of Delivery”
		means, for any Aircraft title to which passes as a result of being physically
		delivered pursuant to the terms and conditions of this Agreement, an executed
		acknowledgement of delivery from the Purchaser thereof to the Seller thereof
		substantially in the form of Exhibit C.

	  

	 “Additional
		Rent”
		means rent (whether called additional rent, supplemental rent, utilization
		rent, maintenance reserve or any similar term) that is in addition to a base
		rent for the Aircraft (regardless of how such base rent is calculated) payable
		under a Lease based on hours or cycles of operation of the airframe, engines,
		life-limited engine parts, landing gear and/or auxiliary power unit of an
		Aircraft, with respect to maintenance of which the lessor under the Lease
		customarily has a maintenance contribution obligation measured in part by or
		with reference to such additional rent.

	  

	 “Affiliate”
		means a Person that directly, or indirectly through one or more intermediaries,
		controls or is controlled by, or is under common control with, the Person
		specified; provided,
		however, that
		Genesis Funding and its Subsidiaries, on the one part, and GECC and its
		Subsidiaries, on the other part, shall not be considered to be Affiliates of
		each other.

	  

	 “Agreed
		Form”
		means, when used in relation to any draft certificate, document, agreement or
		opinion referred to in this Agreement, (a) substantially in the form agreed
		between GECC and Genesis Funding on or before the AP Closing Date with such
		changes thereto as may subsequently be agreed between GECC and Genesis Funding
		and (b) in the case of any opinion, such form as each of the Rating Agencies
		and the Policy Provider shall approve.

	  

	 “Air
		Authority”
		means each Person who is vested with the control and supervision of, or has
		jurisdiction over, the registration, airworthiness and operation of aircraft
		and other matters relating to civil aviation in the State of Registration of
		the relevant Aircraft.

	  

	 “Aircraft”
		means each aircraft listed on Schedule 1 and described in further detail in
		Schedule 2 or, where any such aircraft has become a Remaining Aircraft pursuant
		to Section 4.1(a), and unless the context otherwise requires, any Substitute
		Aircraft designated in lieu thereof pursuant to Sections 4.1(b) and (c) and
		described in the 

	 
		 

		
		  
		

		

		
 
		 
applicable
		Substitute Aircraft Supplement, together with the Engines, and includes where
		the context admits, a separate reference to the Engines, Parts and Aircraft
		Documents and excludes Lessee Furnished Equipment.

	  

	 “Aircraft
		Documents”
		means, for any Aircraft, all records, logs, technical data, manuals and any
		other documents defined as “Aircraft Documents” or any similar term
		under the relevant Lease therefor, title to which is vested in the owner of
		such Aircraft at Delivery.

	  

	 “Aircraft
		No.”
		means, for any Aircraft, the reference number assigned to such Aircraft in
		Schedule 2 or the Substitute Aircraft Supplement, as applicable.

	  

	 “Aircraft
		Purchase Price”
		means (i) on the AP Closing Date, in respect of all of the Aircraft, the
		aggregate “Aircraft Purchase Price” as set forth in Schedule 2, and
		(ii) on any date, in respect of any Aircraft (other than a Substitute
		Aircraft), the “Aircraft Purchase Price” for such Aircraft as set
		forth in Schedule 2, and for any Substitute Aircraft, as may be mutually agreed
		between the Purchaser and GECC, subject always to receipt of a Rating Agency
		Confirmation and the prior written consent of the Policy Provider, provided,
		however, that
		the consent of the Policy Provider shall not be required if the Rating Agencies
		have confirmed that such arrangement will not result in an adverse change to
		the Policy Provider’s capital charge associated with the Class G-1
		Notes.

	  

	 “Aircraft
		Refund Amount”
		means, in respect of any Aircraft, an amount equal to (a) the sum of (i) the
		Debt Allocation Amount for such Aircraft, together with interest thereon at a
		rate per annum equal to the Debt Rate plus (ii) the Equity Allocation Amount
		for such Aircraft, together with the related yield amount at a rate per annum
		of [__]%, plus (b)
		Negative Hedge Breakage Costs, if any, for such Aircraft, minus (c)
		Positive Hedge Breakage Costs, if any, for such Aircraft, plus (if
		such amount is a negative number) or minus (if
		such amount is a positive number) the absolute value of (d) the Non-Delivered
		Aircraft Adjustment Amount for such Aircraft, minus (e) any
		Basic Rent received by or on behalf of Genesis Funding in respect of such
		Aircraft attributable to the period from and after the AP Closing
		Date.

	  

	 “Aircraft
		Value”
		means, in respect of any Aircraft, the product of (i) the Aircraft Purchase
		Price of such Aircraft and (ii) the quotient obtained by dividing
		(A) the Depreciation Factor applicable to such Aircraft as of the Delivery
		Date for such Aircraft or in the case of any Aircraft to which the payment
		provisions of Section 4.2 applies, the Delivery Expiry Date by (B) the
		Depreciation Factor applicable to such Aircraft on the AP Closing
		Date.

	  

	 “AP
		Closing Date”
		means [__________], 2006.

	  

	 “Appraisers”
		means Aircraft Information Services, Inc., Airclaims Limited and BK Associates,
		Inc. or such other appraisers as are reasonably acceptable to Genesis Funding
		Limited.

	 
		 

		
		  2
		

		

		
 
		 
“Asset”
		means any Independent Aircraft or Beneficial Interest purchased by the relevant
		Purchaser pursuant to this Agreement.

	  

	 “Assigned
		Lease”
		means, for any Lease the subject of an Assignment of Lease, such Lease as
		assigned to the relevant Purchaser or relevant Genesis Funding Entity
		(“New
		Lessor”),
		and as amended by the applicable Assignment of Lease.

	  

	 “Assigned
		Property”
		has the meaning specified in Section 2.1.

	  

	 “Assignment
		of Beneficial Interest”
		means an assignment of ownership interest in a Genesis Funding Entity from a BI
		Seller to a Purchaser substantially in the form of Exhibit A-1, A-2 or A-3, as
		applicable, hereto or in the Agreed Form.

	  

	 “Assignment
		of Lease”
		means, for any Aircraft, a lease assignment and assumption agreement in the
		Agreed Form to be entered into between the Seller thereof or an Affiliate of
		such Seller (“Existing
		Lessor”),
		the Purchaser and/or New Lessor thereof and the relevant Lessee, under which
		the relevant Lease will be assigned, assumed and/or amended so that such
		Purchaser or New Lessor (as appropriate) will be substituted as lessor of such
		Aircraft in place of Existing Lessor.

	  

	 “Assignment
		of Warranties”
		means, for any Aircraft, an assignment in the Agreed Form between the Seller
		thereof or an Affiliate of such Seller and the Purchaser, Genesis Funding
		Entity or New Lessor thereof, and consented to by the Manufacturer, of such
		Seller’s right, title and interest in the Manufacturer’s warranties
		in respect of such Aircraft, subject to the interests of the relevant
		Lessee.

	  

	 “Average
		Base Value”
		means, for any Aircraft, the lesser of the mean and median of the “Base
		Values” in respect of such Aircraft rendered by each of the Appraisers,
		provided, that, for any Substitute Aircraft, such appraisals shall be dated
		less than six months prior to the expected Delivery Date for such Substitute
		Aircraft.

	  

	 “Basic
		Rent”
		means, for any Lease, any scheduled rent thereunder, whether denominated as
		“Basic Rent”, “Rent” or otherwise, including any rent based
		on hours or cycles of operation of an Aircraft or Engine such as
		“power-by-the-hour amounts” and any payments for “excess hour or
		cycle amounts”, whether or not in addition to a base rent (which, for the
		avoidance of doubt, shall not include any Additional Rent).

	  

	 “Beneficial
		Interest”
		means, for any Genesis Funding Entity, 100% of the equity interest, both
		beneficial and of record, in such Genesis Funding Entity whether such be in the
		form of shares of a corporation, membership in a limited liability company or
		beneficial interest in a trust.

	  

	 “BI
		Aircraft”
		means any Aircraft title to which is held by (or, in the case of the Skymark
		Aircraft, the beneficial interest in which is held by) any Genesis Funding
		Entity on the AP Closing Date (subject to Section 3.1).

	  

	 “BI
		Seller”
		means either GECC, or any other entity designated as a “BI Seller” on
		Schedule 1 hereof, as a Seller of the Beneficial Interest in a Genesis Funding
		Entity.

	 
		 

		
		  3
		

		

		
 
		 
“BI
		Transfer Date”
		has the meaning specified in Section 2.1.

	  

	 “Bill
		of Sale”
		means, for any Aircraft, an executed bill of sale from the Seller thereof to
		the Purchaser or relevant Genesis Funding Entity substantially in the form of
		Exhibit B (with such modifications as counsel to any Seller in any Delivery
		Location may advise as necessary or desirable) and, as necessary, any FAA Bill
		of Sale executed by the Seller thereof.

	  

	 “Cape
		Town Convention”
		means the Convention on International Interests in Mobile Equipment and its
		Protocol on Matters Specific to Aircraft Equipment, concluded in Cape Town on
		16 November 2001.

	  

	 “Cargo
		Door Rent Balance”
		means an amount equal to the “Cargo Door” Rent (in the amount of
		$20,000 per rental period) paid by ABX Air, Inc., under the Lease in respect of
		Aircraft No. ___ (MSN 23022) or Aircraft No. __ (MSN 23140) received by the
		lessor thereof during the period from the commencement of either such Lease and
		prior to the AP Closing Date (to the extent that such amount has not been paid
		to such Lessee pursuant to such Lease).

	  

	 “CDEC”
		has the meaning specified in Section 13.2.

	  

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

	  

	 “Contracts”
		has the meaning specified in Section 8.3.

	  

	 “Debt
		Allocation Amount”
		means, in respect of an Aircraft, the amount set forth for such Aircraft under
		the heading “Debt Allocation Amount” on Schedule 7.

	  

	 “Debt
		Rate”
		means the rate per annum equal to sum of (a) the Applicable Rate of Interest
		with respect to the Class G-1 Notes and (b) the Policy Percentage (as defined
		in the Policy Fee Letter).

	  

	 “Delivery”
		means, (a) for any Independent Aircraft, transfer of title (or the beneficial
		interest in the case of the Skymark Aircraft) to such Aircraft from the Seller
		thereof to Genesis Funding or any other Subsidiary of Genesis Funding, in
		accordance with Section 3.4(b) and the other provisions of this Agreement, and
		(b) for any BI Aircraft, Transfer of the Beneficial Interest of the Genesis
		Funding Entity that has title (or the beneficial interest in the case of the
		Skymark Aircraft), or holds the Beneficial Interest in another Genesis Funding
		Entity that has title (or the beneficial interest in the case of the Skymark
		Aircraft), to such BI Aircraft in accordance with Section 3.4(a) and the other
		provisions of this Agreement.

	  

	 “Delivery
		Date”
		means, for any Aircraft, the date on which Delivery therefor occurs in
		accordance with this Agreement.

	  

	 “Delivery
		Expiry Date”
		means the date that is 210 days after the AP Closing Date.

	 
		 

		
		  4
		

		

		
 
		 
“Delivery
		Location”
		means, for any Aircraft, the location of such Aircraft at the time of Delivery
		as GECC shall designate, subject to Section 3.

	  

	 “Designated
		Jurisdiction”
		means a jurisdiction in which there is no adverse Tax consequence from a
		delivery or transfer of an Aircraft or a beneficial interest therein as a
		result of the Aircraft being located in such jurisdiction at the time of
		such delivery or transfer.

	  

	 “Disclosure
		Letter”
		means the First Disclosure Letter or a Supplemental Disclosure
		Letter.

	  

	 “Dollars”
		and “$”
		mean the lawful currency for the time being of the United States of
		America.

	  

	 “Engine”
		means, in respect of any Aircraft, each engine for such Aircraft as described
		in Schedule 2 or the Substitute Aircraft Supplement, as applicable, concerning
		such Aircraft or, where any such engine has been replaced under the terms of
		the relevant Lease and title to the replacement engine has passed to the owner
		of such replaced Engine, such replacement engine as described in the relevant
		Bill of Sale or Acknowledgement of Delivery, as the case may be, together with
		all equipment, parts and accessories belonging to, installed in or appurtenant
		to such engine and includes, where the context permits, a separate reference to
		the Aircraft Documents concerning such engine.

	  

	 “Equity
		Allocation Amount”
		means, in respect of an Aircraft, the amount set forth for such Aircraft under
		the heading “Equity Allocation Amount” on Schedule 7.

	  

	 “Event”
		has the meaning specified in Section 11(e).

	  

	 “Event
		of Default”
		means, for any Aircraft, any event defined as such or as “Termination
		Event” or the like in the relevant Lease.

	  

	 “Event
		of Loss”
		means, for any Aircraft, any event defined as such or as “Casualty
		Occurrence” or “Total Loss” or the like in the relevant
		Lease.

	  

	 “Existing
		Lessor”
		has the meaning ascribed thereto in the definition of “Assignment of
		Lease” herein.

	  

	 “FAA
		Bill of Sale”
		means, with respect to any Aircraft the State of Registration of which is the
		United States of America, a Federal Aviation Administration Bill of Sale (AC
		Form 8050-2) to be executed by the Seller in favor of the Purchaser or Genesis
		Funding Entity, and upon Delivery, filed with the Air Authority of the United
		States of America.

	  

	 “Final
		Determination”
		means (i)(A) a decision, judgment, decree or other order by any court of
		competent jurisdiction, which decision, judgment, decree or other order has
		become final after all appeals allowable by law by either party to the action
		have been exhausted or the time for filing such appeals has expired or (B) in
		any case involving United States federal income taxes where judicial review
		shall at the time be unavailable because the proposed adjustment involves a
		decrease in net operating loss carry forwards 

	 
		 

		
		  5
		

		

		
 
		 
or
		business credit carry forwards, a decision, judgment, decree or other order of
		an administrative official or agency of competent jurisdiction, which decision,
		judgment, decree or other order has become final (i.e., where
		all administrative appeals have been exhausted by all parties thereto), (ii) a
		closing agreement entered into (x) under Section 7121 of the Code or any other
		settlement agreement entered into in connection with an administrative or
		judicial proceeding and (y) with the consent of GECC, (iii) the expiration of
		the time for instituting suit with respect to the claimed efficiency or (iv)
		the expiration of the time for instituting a claim for refund or, if such a
		claim was filed, the expiration of the time for instituting suit with respect
		thereto.

	  

	 “First
		Disclosure Letter”
		means a letter from GECC or the applicable Seller to the Purchaser dated the
		date hereof setting out certain information as at the date hereof.

	  

	 “Formation
		Agreement”
		means, for each Genesis Funding Entity, the formation document or trust
		agreement pursuant to which such Genesis Funding Entity was created, as amended
		or supplemented to the date of determination.

	  

	 “GECAS”
		means GE Commercial Aviation Services Limited, an Irish
		corporation.

	  

	 “GE
		Group”
		has the meaning specified in Section 11(c).

	  

	 “GECC”
		means General Electric Capital Corporation, a Delaware
		corporation.

	  

	 “Genesis
		Funding”
		means Genesis Funding Limited, a Bermuda exempted company.

	  

	 “Genesis
		Funding Corporate Entity”
		means any Genesis Funding Entity designated as a Genesis Funding Corporate
		Entity in Schedule 6 hereto.

	  

	 “Genesis
		Funding Entity”
		means any of the entities listed in Schedule 6 hereto.

	  

	 “Genesis
		Funding Non-Corporate Entity”
		means any Genesis Funding Entity designated as a Genesis Funding Non-Corporate
		Entity Partnership in Schedule 6 hereto.

	  

	 “Genesis
		Funding State Corporate Entity”
		has the meaning set forth in Section 8.6.

	  

	 “Government
		Entity”
		means:

	  

	 
			 	
				(1)

					
				any
				  national government, political sub-division thereof, or local jurisdiction
				  therein;
 

 

	  

	 
			 	
				(2)

					
				any
				  instrumentality, board, commission, department, division, organ, court,
				  exchange control authority, or agency of any thereof, however constituted;
				  or
 

 

	  

	 
			 	
				(3)

					
				any
				  association, organization, or institution of which any of the above is a member
				  or to whose jurisdiction any thereof is subject or in whose activities any
				  thereof is a participant.
 

 

	 
		 

		
		  6
		

		

		
 
		“Guaranty”
		  means the Guaranty of GECC in respect of the transactions contemplated hereby
		  in substantially the form of Exhibit D hereto.

		 

		“Indenture”
		  means the Indenture dated as of the date hereof between Genesis Funding, as the
		  Issuer, Deutsche Bank Trust Company Americas, as the Trustee, the Operating
		  Bank and the Cash Manager, PK AirFinance US, Inc., as the Initial Liquidity
		  Facility Provider, and the Policy Provider.

		 

		“Indenture
		  Trustee”
		  means Deutsche Bank Trust Company Americas, as the trustee under the
		  Indenture.

		 

		“Independent
		  Aircraft”
		  means each Aircraft listed on Schedule 1 (other than any BI Aircraft but
		  subject to Section 3.1) and, in each case, any Substitute Aircraft substituted
		  therefor pursuant to Section 4.1.

		 

		“Independent
		  Seller”
		  means each Independent Seller listed on Schedule 1.

		 

		“Intercompany
		  Lease”
		  means, for any Aircraft, any lease therefor in the Agreed Form between the
		  applicable Genesis Funding Entities.

		 

		“International
		  Interest”
		  has the meaning given to such term in the Cape Town Convention.

		 

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

		 

		“Lease”
		  means, for any Aircraft, the aircraft lease agreement (as amended,
		  supplemented, novated or assigned by any relevant Lease Document) between the
		  Existing Lessor thereof and the relevant Lessee identified as such in Schedule
		  2 or the Substitute Aircraft Supplement, as applicable, concerning such
		  Aircraft.

		 

		“Lease
		  Assignment Documents”
		  has the meaning ascribed thereto in the Security Trust Agreement. 

		 

		“Lease
		  Documents”
		  means, for any Aircraft, all agreements identified as such in Schedule 2 or the
		  Substitute Aircraft Supplement, as applicable, concerning such Aircraft,
		  including any applicable Lease Novation or Assignment of Lease, as such may be
		  amended by any Disclosure Letter the contents of which have been agreed to by
		  Genesis Funding, and any Intercompany Lease.

		 

		“Lease
		  Novation”
		  means, for any Independent Aircraft, a lease novation or assignment and
		  amendment agreement therefor in the Agreed Form, to be entered into between the
		  Purchaser thereof and/or the New Lessor, the Existing Lessor thereof as lessor
		  and the relevant Lessee, under which the relevant Lease will be novated or
		  assigned and amended so that such Purchaser or New Lessor (as appropriate) will
		  be substituted as lessor of such Aircraft in place of such Existing
		  Lessor.

		
		   

		  
			 7
		  

		  

		  
 
		   
“Lessee”
		  means, for any Aircraft, the lessee of such Aircraft as identified in Schedule
		  2 or the Substitute Aircraft Supplement, as applicable, and includes where the
		  context permits a separate reference to the lessee under an Intercompany
		  Lease.

		 

		“Lessee
		  Encumbrance”
		  means, for any Aircraft, any Encumbrance which is created by or is attributable
		  to the acts, omissions, debts or liabilities of the applicable Lessee or its
		  Affiliates.

		 

		“Lessee
		  Furnished Equipment”
		  means, for any Aircraft, those appliances, parts, accessories, instruments,
		  navigational and communications equipment, furnishings modules, components and
		  other items of equipment installed in or furnished with such Aircraft at
		  Delivery and ownership of which is not required pursuant to the relevant Lease
		  to vest in or be transferred to the lessor or owner of such Aircraft, as the
		  case may be.

		 

		“Liabilities”
		  means any and all debts, liabilities and obligations, whether accrued or fixed,
		  absolute or contingent, matured or unmatured or determined or determinable,
		  including, without limitation, those arising under any Applicable Law
		  (including, without limitation, any environmental law), and those arising under
		  any contract, agreement, arrangement, commitment or undertaking.

		 

		“Losses”
		  has the meaning specified in Section 10.1.

		 

		“Manufacturer”
		  means, for any Aircraft, the manufacturer thereof as identified in Schedule 2
		  or the Substitute Aircraft Supplement, as applicable, and includes where the
		  context permits a separate reference to the manufacturer of each Engine as
		  identified in Schedule 2 or the Substitute Aircraft Supplement, as
		  applicable.

		 

		“Material
		  Damage”
		  means, for any Aircraft, damage to such Aircraft in excess of 25% of the
		  applicable Aircraft Value.

		 

		“Material
		  Default”
		  means, for any Lease:

		 

		
		  	 	
				  (1)

				  	
				  an Event
					 of Default consisting of failure to pay Rent or Additional Rent when due if
					 such delinquency is in excess of thirty days from the due date (a
					 “Payment
					 Default”)
					 or any non-payment Event of Default; or
 

 

		 

		
		  	 	
				  (2)

				  	
				  any
					 insurance default under such Lease known to GECC or any applicable Seller;
					 
 

 

		 

		unless,
		  in any such case, such Event of Default, Payment Default or insurance default
		  has been disclosed to each Rating Agency and the Policy Provider prior to the
		  AP Closing Date.

		 

		“Negative
		  Hedge Breakage Costs”
		  means, in respect of any Aircraft, an amount equal to the amount allocable to
		  such Aircraft that is payable by any Issuer Group Member to a Hedge Provider
		  due to an early termination of any Hedge Agreement resulting from the
		  non-delivery of, or deemed rescission of the transfer in respect of, such
		  Aircraft.

		
		   

		  
			 8
		  

		  

		  
 
		   
“New
		  Lessor”
		  has the meaning ascribed thereto in the definition of “Assigned
		  Lease” herein.

		 

		“Non-Delivered
		  Aircraft Adjustment Amount”
		  means, with respect to any Aircraft to which the payment provisions of Section
		  4.2 applies, the remainder, which may be a negative number, of (A) all
		  Additional Rent received by or on behalf of the relevant lessor under the Lease
		  of such Aircraft and paid to Genesis Funding pursuant to Section 5.3 hereof,
		  minus (B) the
		  amount of maintenance contributions, airworthiness directive cost sharing
		  payments and other similar payments made by or on behalf of Genesis Funding for
		  such Aircraft on or after the AP Closing Date.

		 

		“Novated
		  Lease”
		  means, for any Lease subject to a Lease Novation, such Lease as novated to the
		  Purchaser or New Lessor (as appropriate) of the Aircraft the subject of such
		  Lease, and as amended by the applicable Lease Novation.

		 

		“Operative
		  Documents”
		  means, for any Aircraft, (a) this Agreement, (b) the Guaranty, (c) the Bill of
		  Sale or Acknowledgement of Delivery therefor, as applicable, (d) either
		  (i) the Lease Novation or (ii) the Assignment of Lease therefor, and (e) in the
		  case of any BI Aircraft, the Assignment of Beneficial Interest together with,
		  in case of Beneficial Interests consisting of capital stock or equity interest,
		  certificates representing such Beneficial Interest duly issued and registered
		  in the name of Genesis Funding.

		 

		“Order”
		  means any writ, judgment, decree, injunction or similar order of any
		  governmental or regulatory authority (in each case whether preliminary or
		  final).

		 

		“Parts”
		  shall mean any part, component, appliance, accessory, instrument or other item
		  of equipment (other than any of the Engines) installed in or furnished with or
		  attached to any of the Aircraft at Delivery (or part thereof) except Lessee
		  Furnished Equipment.

		 

		“Paying
		  Party”
		  has the meaning specified in Section 5.7.

		 

		“Payment
		  Default”
		  has the meaning ascribed thereto in the definition of “Material
		  Default” herein.

		 

		“Permits”
		  has the meaning specified in Section 8.3.

		 

		“Permitted
		  Encumbrance”
		  means:

		 

		
		  	 	
				  (1)

				  	
				  any
					 Purchaser Encumbrance; 
 

 

		 

		
		  	 	
				  (2)

				  	
				  the
					 rights conferred by the Lease Documents (including Encumbrances under the
					 Skymark Head Lease, the Skymark Participation Agreement, the SC Air Conditional
					 Sale Agreement, and related documents, including the interest held by SC Air);
					 and 
 

 

		 

		
		  	 	
				  (3)

				  	
				  any
					 Lessee Encumbrances.
 

 

		 

		“Policy
		  Provider”
		  means Financial Guaranty Insurance Company.

		
		   

		  
			 9
		  

		  

		  
 
		   
“Positive
		  Hedge Breakage Costs”
		  means, in respect of any Aircraft, an amount equal to the amount allocable to
		  such Aircraft that is payable to any Issuer Group Member by a Hedge Provider
		  due to an early termination of any Hedge Agreement resulting from the
		  non-delivery of, or deemed rescission of the transfer in respect of, such
		  Aircraft.

		 

		“Pre-Closing
		  Taxes”
		  has the meaning specified in Section 11(d)(iv).

		 

		“Pre-Closing
		  Tax Returns”
		  has the meaning specified in Section 11(d)(iii).

		 

		“Priority
		  Search Certificate”
		  shall have the meaning set forth in the regulations adopted pursuant to the
		  Cape Town Convention.

		 

		“Purchaser”
		  means, for any Asset, the purchaser of such Asset pursuant to this Agreement,
		  which shall be Genesis Funding or, in the case of any Independent Aircraft, any
		  of Genesis Funding or any Subsidiary of Genesis Funding as designated in
		  writing by Genesis Funding at least three Business Days (or such shorter period
		  as may be agreed) prior to the relevant Delivery Date.

		 

		“Purchaser
		  Encumbrance”
		  means any Encumbrance which is created by or results from debts or liabilities
		  or actions or omissions of any Purchaser of an Asset or its
		  Affiliates.

		 

		“Purchaser
		  Indemnitees”
		  means Genesis Funding, any Subsidiary of Genesis Funding, each other Purchaser,
		  the Security Trustee, the Trustee, the Directors, the holders of the Class A
		  Shares, the Policy Provider and any of their respective successors and assigns,
		  shareholders (except in the case of the shareholders of the holders of the
		  Class A Shares), subsidiaries, Affiliates, directors, trustees, servants,
		  agents and employees.

		 

		“Receiving
		  Party”
		  has the meaning specified in Section 5.7.

		 

		“Remaining
		  Aircraft”
		  has the meaning specified in Section 4.1(a).

		 

		“Retained
		  Rights”
		  has the meaning specified in Section 2.1.

		 

		“SC
		  Air”
		  means SC Air 737H Co. Ltd., a
		  Japanese limited liability company.

		 

		“SC
		  Air Conditional Sale Agreement”
		  means
		  the Conditional
		  Sale Agreement dated December 20, 2005 between SC Air, as seller, and Celestial
		  Aviation Trading 63 Limited, as buyer, as amended, modified and supplemented
		  from time to time and as further novated and amended by a Conditional Sale
		  Assignment and Amendment Agreement among Celestial Aviation Trading 63 Limited,
		  as existing buyer, the Skymark Beneficial Owner, as new buyer, and SC Air, as
		  seller.

		 

		“SC
		  Air Mortgage”
		  means the First
		  Priority Aircraft Mortgage Agreement dated December 21, 2005 between the
		  Celestial Aviation Trading 63 Limited, as mortgagee, and SC Air, as
		  mortgagor, amended,
		  modified and supplemented from time to time and as
		  further assigned and amended by a Mortgage Assignment and Amendment Agreement
		  among SC
		  Air, as
		  mortgagor, Celestial
		  Aviation Trading 63 Limited, as existing mortgagee and the Skymark Beneficial
		  Owner, as new mortgagee,
		  securing
		  the prompt 

		
		   

		  
			 10
		  

		  

		  
 
		   
performance
		  by SC Air of its obligation and liability to transfer title to the Skymark
		  Aircraft to the Skymark Beneficial Owner under the SC Air Conditional Sale
		  Agreement.

		 

		“Security
		  Deposit”
		  means, for any Aircraft, the amount (whether in the form of cash, a letter of
		  credit, guarantee, promissory note or otherwise) set forth opposite the term
		  “Security Deposit” in respect of such Aircraft on Schedule 2 or the
		  Substitute Aircraft Supplement, as applicable, in each case paid to the
		  applicable lessor and not applied or repaid as of the AP Closing Date, together
		  with any interest thereon required under the terms of the applicable Lease to
		  be paid to or to accrue in favor of the Lessee thereunder to the AP Closing
		  Date.

		 

		“Seller”
		  means with respect to any Asset, the BI Seller or the Independent Seller, as
		  the case may be, selling such Asset. For the avoidance of doubt, Seller shall
		  not mean any seller of aircraft or any other asset to any of the Purchasers
		  other than pursuant to this Agreement.

		 

		“Seller
		  Indemnitees”
		  means, for any Aircraft, the Seller thereof (and each party named as an
		  Indemnitee with respect to the Lease of such Aircraft prior to amendment
		  thereof by an Assignment of Lease or Lease Novation, as the case may be), GECC
		  and any of their respective successors and assigns, shareholders, subsidiaries,
		  Affiliates, directors, trustees, servants, agents, and employees.

		 

		“Skymark
		  Aircraft”
		  means the Boeing 737-800 aircraft bearing manufacturer’s serial number
		  34247.

		 

		“Skymark
		  Beneficial Owner”
		  means Wells Fargo Bank Northwest, National Association, as owner
		  trustee.

		 

		“Skymark
		  Head Lease”
		  means the Head Lease Agreement between the Skymark Beneficial Owner, as lessor,
		  and Genesis Funding France 2 S.à r.l., as lessee.

		 

		“Skymark
		  Lease”
		  means the Aircraft Specific Lease Agreement dated June 9, 2004 between AFS
		  Investments 63 LLC, as lessor, and Skymark Airlines Co., Ltd., as lessee,
		  incorporating the terms of the Aircraft Lease Common terms agreement dated
		  April 4, 2004 between Aviation Financial Services Inc., as lessor, and Skymark
		  Airlines Co., Ltd., as lessee; as amended, modified and supplemented from time
		  to time and as further novated and amended by a Deed of Amendment and Novation
		  dated October 18, 2005 between AFS Investments 63 LLC, as existing lessor,
		  GECAS Aircraft Leasing Norway AS, as new lessor, and Skymark Airlines Co.,
		  Ltd., as lessee; and by a Deed of Amendment and Novation among GECAS Aircraft
		  Leasing Norway AS, as existing lessor, Genesis Funding France 2 S.à
		  r.l., as new lessor, and Skymark Airlines Co., Ltd., as lessee.

		 

		“Skymark
		  Participation Agreement”
		  means the Participation Agreement dated December 20, 2005 among SC Air,
		  Celestial Aviation Trading 63 Limited, GECAS Aircraft Leasing Norway AS and
		  Skymark Airlines Co., Ltd., as amended, modified and supplemented from time to
		  time and as further assigned and amended by a Participation Agreement
		  Assignment and Amendment Agreement among SC Air, Celestial Aviation Trading 63
		  

		
		   

		  
			 11
		  

		  

		  
 
		   
Limited,
		  the Skymark Beneficial Owner, GECAS Aircraft Leasing Norway AS, Genesis Funding
		  France 2 S.à r.l. and Skymark Airlines Co., Ltd.

		 

		“State
		  of Registration”
		  means, for any Aircraft, the country identified in Schedule 2 or the Substitute
		  Aircraft Supplement, as applicable, concerning such Aircraft.

		 

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

		 

		“Substitute
		  Aircraft”
		  has the meaning specified in Section 4.1(b).

		 

		“Substitute
		  Aircraft Adjustment Amount”
		  means, with respect to a Substitute Aircraft and the related Remaining
		  Aircraft, the sum of (a) the difference (whether positive or negative) obtained
		  by subtracting (i) the amount obtained by subtracting (u) the amount
		  of maintenance contributions, airworthiness directive cost sharing payments and
		  other similar payments made by or on behalf of the relevant lessor under the
		  Lease for such Substitute Aircraft on or after the AP Closing Date from
		  (v) the amount of Additional Rent received by or on behalf of the relevant
		  lessor under the Lease for such Substitute Aircraft on or after the AP Closing
		  Date, from (ii) the amount obtained by subtracting (x) the amount of
		  maintenance contributions, airworthiness directive cost sharing payments and
		  other similar payments made by or on behalf of Genesis Funding for such
		  Remaining Aircraft after the AP Closing Date from (y) the amount of
		  Additional Rent received by Genesis Funding for such Remaining Aircraft after
		  the AP Closing Date and (b) the difference (whether positive or negative)
		  obtained by subtracting (i) the sum of the portions of any Basic Rent under the
		  Lease for such Substitute Aircraft received (and any amounts debited from the
		  Security Deposit relating to such Substitute Aircraft due to the nonpayment of
		  such Basic Rent) by or on behalf of the related Seller or relevant Lessor, as
		  applicable, related to the period subsequent to the AP Closing Date from (ii)
		  the sum of the portions of any Basic Rent under the Lease for such Remaining
		  Aircraft received (and any amounts debited from the Security Deposit relating
		  to such Remaining Aircraft due to the nonpayment of such Basic Rent) by or on
		  behalf of Genesis Funding, related to the period subsequent to the AP Closing
		  Date.

		 

		“Substitute
		  Aircraft Supplement”
		  means, for any Substitute Aircraft, a supplement to this Agreement in the
		  Agreed Form which, among other things, sets forth such matters as GECC and
		  Genesis Funding shall agree apply specifically to such Substitute Aircraft, as
		  provided in Section 4.1(c).

		 

		“Sumitomo”
		  means Sumitomo Corporation, a Japanese corporation.

		
		   

		  
			 12
		  

		  

		  
 
		   
“Sumitomo
		  Share Pledge Agreement”
		  means the Share Pledge Agreement dated December 20, 2005 between Celestial
		  Aviation Trading 63 Limited, as pledgee, and Sumitomo, as pledgor, as amended,
		  modified and supplemented from time to time and as further assigned and amended
		  by a Share Pledge Assignment and Amendment Agreement among Sumitomo, as
		  pledgor, Celestial Aviation Trading 63 Limited, as existing pledgee and the
		  Skymark Beneficial Owner, as new pledgee.

		 

		“Supplemental
		  Disclosure Letter”
		  means, (a) for any Independent Aircraft, a letter from GECC or the applicable
		  Seller to Genesis Funding setting out certain information as of the Delivery
		  Date for such Aircraft and (b) for any BI Aircraft, a letter from GECC or the
		  applicable Seller to Genesis Funding setting out certain information as of the
		  relevant BI Transfer Date.

		 

		“Taxes”
		  means any and all present and future sales, use, personal property, customs, ad
		  valorem, value added, turnover, franchise, windfall or other profits, payroll,
		  capital stock, employment, social security, workers’ compensation,
		  unemployment compensation, stamp, transfer, excise, interest equalization,
		  income, gross receipts, limited liability company minimum, limited partnership
		  minimum or other taxes, fees, withholdings, imposts, duties, deductions,
		  levies, or other charges of any nature, together with any penalties, fines, or
		  interest thereon, imposed, levied, or assessed by, or otherwise payable to, any
		  Government Entity.

		

		“Tax
		  Return”
		  with respect to any entity means a report, return or other information
		  (including any amendments) required to be supplied to a Government Entity with
		  respect to Taxes of such entity including, information returns and, where
		  permitted or required, combined or consolidated returns for any group of
		  entities that include the entity.

		

		“Tax
		  Sharing Agreement”
		  has the meaning specified in Section 11(d)(i).

		 

		“Transfer”
		  means the sale, conveyance and transfer of any Beneficial
		  Interest.

		

		“Treasury
		  Regulations”
		  means proposed, temporary or final regulations promulgated under the Code by
		  the United States Treasury Department.

		 

		
		  	
				  1.2

				  	
				  In
					 addition to the terms defined in Section 1.1, and for all purposes of this
					 Agreement, all capitalized terms used but not otherwise defined herein shall
					 have the respective meanings assigned to such terms in the
					 Indenture.
 

 

		 

		
		  	1.3	(a)	
				  In this
					 Agreement, unless the contrary intention is stated, a reference
					 to:
 

 

		 

		
		  	 	
				  (i)

				  	
				  each of
					 “GECC”, any “Seller”, “Genesis Funding”, any
					 “Purchaser” or any other Person includes without prejudice to the
					 provisions of this Agreement any successor in title to it or any permitted
					 assignee;
 

 

		 

		
		  	 	
				  (ii)

				  	
				  words in
					 the plural include the singular and vice versa;
 

 

		 

		
		  	 	
				  (iii)

				  	
				  any
					 document includes that document as amended, novated or supplemented, in each
					 case in accordance with its terms;
 

 

		
		   

		  
			 13
		  

		  

		  
 
		   
 

		
		  	 	
				  (iv)

				  	
				  a law
					 (1) includes any statute, decree, constitution, regulation, order, judgment or
					 directive of any Government Entity; (2) includes any treaty, convention, pact,
					 compact or other agreement to which any Government Entity is a signatory or
					 party; (3) includes any judicial or administrative interpretation or
					 application thereof; and (4) is a reference to that provision as amended,
					 substituted or re-enacted; 
 

 

		 

		
		  	 	
				  (v)

				  	
				  a
					 Section, an Exhibit or a Schedule is a reference to a section of or an exhibit
					 or a schedule to this Agreement; and
 

 

		 

		
		  	 	
				  (vi)

				  	
				  references
					 to the beneficial interest in the Skymark Aircraft mean the interest of the
					 purchaser pursuant to the SC Air Conditional Sale Agreement.
 

 

		 

		
		  	 	
				  (b)

				  	
				  The
					 headings in this Agreement are to be ignored in construing this
					 Agreement.
 

 

		 

		
		  	
				  2.

				  	
				  SALE
					 AND PURCHASE
 

 

		 

		
		  	
				  2.1

				  	
				  On the
					 AP Closing Date, or as promptly thereafter as practical (but no later than the
					 Delivery Expiry Date), and upon the satisfaction of all of the conditions
					 precedent by the BI Seller in Sections 6 and 7 with respect to all of the BI
					 Aircraft then owned by each Genesis Funding Entity (each such date, the
					 “BI
					 Transfer Date”
					 for such Genesis Funding Entity), the Purchaser will purchase from Seller and
					 concurrently therewith, the BI Seller will sell to the Purchaser, the
					 Beneficial Interest in such Genesis Funding Entity by delivery to the Purchaser
					 of an Assignment of Beneficial Interest in the form of Exhibit A-1, A-2 or A-3,
					 as applicable, hereto, dated such BI Transfer Date, and in the case of a
					 Beneficial Interest consisting of capital stock or equity interest
					 certificates, certificates (with all required stock transfer tax having been
					 paid) evidencing such Beneficial Interest, conveying to the Purchaser outright
					 and unconditionally all of the BI Seller’s right, title and interest in,
					 to and under such Beneficial Interest of such Genesis Funding Entity,
					 including, without limitation, all of the BI Seller’s rights as
					 shareholder, member or beneficiary, as the case may be, of such Genesis Funding
					 Entity, any applicable Security Deposit or Additional Rent but excluding any
					 Additional Rent paid on or prior to the AP Closing Date, together with all
					 other agreements, contracts, documents and instruments evidencing any of such
					 right, title and interest as well as the proceeds of all thereof, in each case
					 free from any Encumbrances other than Permitted Encumbrances (individually or
					 collectively, the “Assigned
					 Property”
					 for such Genesis Funding Entity) on, and subject to, the terms and conditions
					 contained in this Agreement; reserving,
					 however, to
					 such Seller all claims for indemnities payable to such Seller (or the
					 applicable Genesis Funding Entity) under the related Lease(s) in respect of any
					 act or omission or events occurring prior to the later of the (i) AP Closing
					 Date and (ii) Delivery Date for such Genesis Funding Entity (the
					 “Retained
					 Rights”
					 for the Aircraft relating to or for such Genesis Funding Entity). For the
					 avoidance of doubt, except in the case of a Substitute Aircraft or an
					 undelivered Aircraft as provided in Section 4, all Basic Rent and Additional
					 Rent paid on
					 or prior
					 to the AP Closing
					 Date shall be retained by or paid over to, as the case may be, the applicable
					 BI Seller and all Basic Rent and Additional Rent paid after the AP Closing Date
					 shall be credited to or retained by or paid over to, as the 
 

 

		
		   

		  
			 14
		  

		  

		  
 
		   
case may
		  be, the applicable Purchaser.
		  Effective
		  as of the BI Transfer Date for each Genesis Funding Entity, on, and subject to,
		  the terms and conditions contained in this Agreement, the Purchaser agrees to
		  accept the assignment of the Assigned Property for such Genesis Funding Entity
		  from the BI Seller and, subject to Section 3.5, assume and undertake all of the
		  duties, obligations and liabilities of the BI Seller with respect to such
		  Assigned Property arising and to be performed on or after such BI Transfer Date
		  and agrees to be bound by all the terms of and to undertake all of the duties,
		  obligations and liabilities arising after such BI Transfer Date of the BI
		  Seller with respect to the Assigned Property for such Genesis Funding Entity.
		  Each Purchaser or Genesis Funding with respect to a Retained Right shall take
		  such actions or pursue such claims as reasonably requested to by the Seller;
		  provided, (i)
		  all costs incurred by the Purchaser and Genesis Funding shall be for the
		  Seller’s account, (ii) the Seller agrees to indemnify the Purchaser and
		  Genesis Funding for any costs or liabilities incurred in connection with such
		  action or pursuit of claim and (iii) such action or pursuit of claim shall not
		  be inconsistent with a Purchaser’s or Genesis Funding’s obligations
		  under any of the Operative Documents.

		 

		
		  	
				  2.2

				  	
				  With
					 respect to each Independent Aircraft, on or after the AP Closing Date (but no
					 later than the Delivery Expiry Date), and upon the satisfaction of all of the
					 conditions precedent by any Independent Seller in Sections 6 and 7 with respect
					 to any Independent Aircraft owned by such Independent Seller, the Purchaser
					 will purchase from such Independent Seller and concurrently therewith, such
					 Independent Seller will sell to the Purchaser, such Independent Aircraft,
					 including, without limitation, the Aircraft Documents and any applicable
					 Security Deposit or Additional Rent, but excluding any Additional Rent paid on
					 or prior to the AP Closing Date and Retained Rights, on and subject to the
					 terms and conditions contained in this Agreement (including, without
					 limitation, the execution of a Lease Novation or Assignment of Lease (as the
					 case may be) in respect of such Independent Aircraft and delivery of the Lease
					 Documents therefor), each in its “AS IS” and “WHERE IS”
					 condition at the relevant Delivery Location, free from any Encumbrances other
					 than Permitted Encumbrances. For the
					 avoidance of doubt, except in the case of a Substitute Aircraft or an
					 undelivered Aircraft as provided in Section 4, all Basic Rent paid or to be
					 payable in respect of the
					 period prior to, and all Additional Rent paid on or prior to, the
					 AP Closing
					 Date shall be retained by or paid over to, as the case may be, the applicable
					 Seller and all Basic Rent and Additional Rent paid in respect of the period
					 after the AP Closing Date shall be credited to or retained by or paid over to,
					 as the case may be, the applicable Purchaser. Each
					 Purchaser or Genesis Funding with respect to a Retained Right shall take such
					 actions or pursue such claims as reasonably requested to by the Seller;
					 provided, (i)
					 all costs incurred by the Purchaser and Genesis Funding shall be for the
					 Seller’s account, (ii) the Seller agrees to indemnify the Purchaser and
					 Genesis Funding for any costs or liabilities incurred in connection with such
					 action or pursuit of claim and (iii) such action or pursuit of claim shall not
					 be inconsistent with a Purchaser’s or Genesis Funding’s obligations
					 under any of the Operative Documents
 

 

		 

		
		  	
				  2.3

				  	
				  The
					 parties hereto acknowledge, consent and agree that from and after the AP
					 Closing Date, each of the Aircraft shall be subject to the Management Agreement
					 as attached as Exhibit G hereto and the Servicing Agreement as attached as
					 Exhibit F hereto on the terms and conditions provided herein and therein
					 whether or not such Aircraft shall have 

				   
 

 

		
		   

		  
			 15
		  

		  

		  
 
		   

		  been
			 delivered hereunder or any Delivery Date shall have occurred, provided always
			 that (without prejudice to the terms of the Management Agreement or the
			 Servicing Agreement) from and after the Delivery Expiry Date an Aircraft shall
			 cease to be subject to the Management Agreement and the Servicing Agreement
			 upon payment by GECC of the amount specified in Section 4.2 in respect of such
			 Aircraft. Each party hereto further agrees that from and after the AP Closing
			 Date it shall reasonably cooperate with, and take such action as may be
			 reasonably requested by, the Servicer in connection with the performance of the
			 Servicer’s obligations under the Servicing Agreement.
 

		 

		
		  	
				  2.4

				  	
				  In
					 consideration of Genesis Funding agreeing to purchase the Aircraft, GECC and
					 the applicable Sellers agree to pay to Citibank, N.A., on behalf of Genesis
					 Funding, an amount equal to the premium, if any [($__________)]1  payable
					 by Genesis Funding to Citibank, N.A. in connection with entering into the
					 Initial Hedge Agreements on the AP Closing Date.
 

 

		 

		
		  	
				  3.

				  	
				  DELIVERY
					 AND ACCEPTANCE
 

 

		 

		
		  	
				  3.1

				  	
				  Each of
					 the relevant BI Seller and the Purchaser shall use commercially reasonable
					 efforts to cause the Transfer of the Beneficial Interest for each Genesis
					 Funding Entity to occur on or as soon as reasonably practicable after the AP
					 Closing Date, and each of GECC and each of the Independent Sellers and the
					 Purchaser shall use commercially reasonable efforts to cause Delivery of each
					 Independent Aircraft to occur on or as soon as reasonably practicable after the
					 AP Closing Date, in each case subject to the other terms and conditions of this
					 Agreement, but in no event later than the Delivery Expiry Date. Delivery of the
					 Independent Aircraft need not take place concurrently or in the order set out
					 in Schedule 2. If the failure to satisfy one or more conditions precedent with
					 respect to any BI Aircraft (but less than all the BI Aircraft) owned by any
					 Genesis Funding Entity is the sole reason preventing the Transfer of the
					 Beneficial Interest of such Genesis Funding Entity to occur prior to the
					 Delivery Expiry Date, GECC may, following notice to Genesis Funding, cause such
					 Genesis Funding Entity first to effect delivery of such BI Aircraft to one of
					 the Sellers (or other entity designated in writing by GECC at least three
					 Business Days (or such shorter period as may be agreed) prior to the date of
					 such delivery) prior to the Delivery Expiry Date (whereupon such BI Aircraft
					 shall be an Independent Aircraft for purpose of this Agreement), and promptly
					 thereafter on or prior to the Delivery Expiry Date to Transfer the Beneficial
					 Interest of such Genesis Funding Entity to Genesis Funding.
 

 

		 

		
		  	
				  3.2

				  	
				  GECC and
					 any other Seller of any Independent Aircraft shall cause the Delivery Location
					 for such Aircraft to be in a jurisdiction:
 

 

		 

		
		  	 	
				  (a)

				  	
				  where
					 GECC has determined, in its sole discretion, that there are no Taxes (other
					 than income taxes imposed on the Seller thereof) that would be imposed upon
					 such Seller, the Purchaser thereof or the Aircraft as a result of the transfer
					 of title to the applicable Aircraft to such Purchaser, provided that the Seller
					 may (but shall not be obligated to) complete any sale where such Taxes would be
					 imposed 
 

 

		 

		
		  

		  

		
		  
			 	1	
					 To be
						determined and inserted at closing, if a positive number.
 

 
 

		
		   

		  
			 16
		  

		  

		  
  

		 

		
		  on such
			 Seller and, with the prior written consent of the Purchaser thereof, such
			 Seller may (but shall not be obligated to) complete any sale where such Taxes
			 would be imposed on such Purchaser; and
 

		 

		
		  	 	
				  (b)

				  	
				  where
					 the security, if any, contemplated by the applicable Assignment of Lease, Lease
					 Novation or any related Lease Document to be granted to the Purchaser or New
					 Lessor thereof would be effective relative to such Aircraft; and

				  

 

		 

		
		  	 	
				  (c)

				  	
				  where
					 the security contemplated by the Security Trust Agreement with respect to the
					 applicable Lease, and, in the case of Aircraft registered in the United States
					 or Ireland, the Aircraft, would be effective under the governing law of the
					 Security Trust Agreement.
 

 

		 

		In the
		  case of any BI Aircraft, the relevant BI Seller shall use reasonable efforts to
		  cause the Delivery Location for such Aircraft to be in a jurisdiction where
		  such BI Seller has determined, in its sole discretion that there are no Taxes
		  (other than income taxes imposed on the Seller thereof) that would be imposed
		  upon such Seller, the Purchaser thereof, the Genesis Funding Entity or the
		  Aircraft as a result of the Transfer of Beneficial Interest relating to such BI
		  Aircraft to Genesis Funding subject in all cases to the proviso set forth in
		  Section 3.2(a) above.

		 

		
		  	
				  3.3

				  	
				  GECC
					 shall use reasonable efforts to keep Genesis Funding advised as to any
					 information of which GECC becomes aware as to the intended whereabouts of each
					 Independent Aircraft on the expected Delivery Date therefor and of each BI
					 Aircraft on the expected BI Transfer Date relating to such BI Aircraft. Each
					 Purchaser shall, subject to the terms and conditions of this Agreement and
					 using reasonable efforts, cooperate with the Seller of each Aircraft (at such
					 Seller’s cost) so as to allow the Delivery relating to such Independent
					 Aircraft, as the case may be, to occur when such Aircraft is at the Delivery
					 Location therefor. In the event that GECC or the relevant Seller reasonably
					 believes that the jurisdiction of the Delivery Location is a jurisdiction where
					 there may be Taxes imposed upon any Seller Indemnitee or any Purchaser
					 Indemnitee as a result of the transfer of the Seller’s interest in the
					 applicable Aircraft or Genesis Funding Entity to the Purchaser or for which the
					 Seller would otherwise be liable under Section 11 hereof, the Seller may, to
					 the extent a favorable Delivery Location cannot be arranged, elect to treat
					 such Aircraft as a Remaining Aircraft.
 

 

		 

		
		  	3.4	(a)	
				   For each
					 BI Aircraft, on the Delivery Date therefor, subject to the satisfaction of the
					 conditions precedent set out in Section 7.1 and Exhibit E-1 applicable thereto,
					 the Seller thereof shall be deemed to have tendered such BI Aircraft for
					 Delivery. On each BI Transfer Date, subject to the satisfaction of the
					 conditions precedent set out in Sections 6 and 7 applicable thereto, the BI
					 Seller shall execute an Assignment of Beneficial Interest in the form of
					 Exhibit A-1, A-2 or A-3, as applicable, attached hereto, and in the case of a
					 Beneficial Interest consisting of capital stock or equity interest certificates
					 cause the certificates representing the Beneficial Interest to be duly
					 registered in the name of Genesis Funding.
 

 

		 

		
		  	 	
				  (b)

				  	
				  For each
					 Independent Aircraft, on the Delivery Date therefor, subject to satisfaction of
					 the conditions precedent set out in Sections 6 and 7 applicable 

				  

 

		
		   

		  
			 17
		  

		  

		  
  

		 

		
		  thereto,
			 the Seller thereof shall tender such Independent Aircraft for Delivery.
			 Delivery and acceptance of any Independent Aircraft hereunder shall take place
			 while such Independent Aircraft is located at the Delivery Location therefor,
			 by such Seller either (i) subject to Section 3.4(c), delivering physical
			 possession of such Independent Aircraft to the Purchaser thereof or (ii)
			 executing and delivering to such Purchaser a Bill of Sale. Thereupon, full
			 legal and beneficial title to such Independent Aircraft, free from Encumbrances
			 other than Permitted Encumbrances, shall pass from the Seller thereof to the
			 Purchaser thereof. Simultaneously with physical delivery of any Independent
			 Aircraft or delivery to the Purchaser of the Bill of Sale (as the case may be),
			 title to the Aircraft Documents therefor shall pass as provided in the Lease
			 Novation or the Assignment of Lease, as applicable, and the Lease related
			 thereto shall be novated or assigned (as the case may be) upon the Delivery of
			 such Independent Aircraft. Where Delivery is effected by delivering physical
			 possession of any Independent Aircraft, the Purchaser thereof shall execute and
			 deliver to the Seller thereof an Acknowledgement of Delivery and, at any time
			 after Delivery upon reasonable request of the Purchaser, the Seller thereof
			 shall deliver to the Purchaser thereof a confirmatory bill of sale
			 substantially in the form of the Bill of Sale, mutatis mutandis;
			 notwithstanding the foregoing, the parties hereto agree that each Seller may
			 refuse any such request of any Purchaser to deliver a confirmatory bill of sale
			 if such delivery would result in the imposition of any Taxes, including without
			 limitation, documentary taxes on such Seller, such Purchaser or the Independent
			 Aircraft. 
 

		 

		
		  	 	
				  (c)

				  	
				  Each
					 Seller of an Independent Aircraft agrees that it will elect to Deliver such
					 Aircraft to the Purchaser thereof pursuant to a Bill of Sale unless such
					 Delivery will result in any documentary Taxes or other Taxes being imposed upon
					 such Seller or Purchaser or the Aircraft that would not otherwise be imposed as
					 a result of such Delivery and/or the opinion delivered in accordance with
					 Section 7.2(g)(i) states that such Delivery is not a valid transfer of
					 title.
 

 

		 

		
		  	
				  3.5

				  	
				  Subject
					 to the provisions of Section 5.3 hereof with respect to Material Damage and
					 Event of Loss in respect of any Aircraft, the risk of the existence of any
					 unrepaired Material Damage or the occurrence of an Event of Loss with respect
					 to an Aircraft shall be retained by the applicable Seller thereof until the
					 applicable BI Transfer Date in the case of any BI Aircraft or the applicable
					 Delivery Date in the case of any Independent Aircraft. All other risk of loss
					 of, or damage to, each Aircraft (other than a Substitute Aircraft) and the
					 Aircraft Documents relating thereto shall pass from the Seller thereof to the
					 Purchaser thereof on the AP Closing Date (provided that if Delivery in respect
					 of any such Aircraft shall not occur on or before the Delivery Expiry Date such
					 risk of loss or damage with respect to such undelivered Aircraft (and the
					 Aircraft Documents relating thereto) shall return to the Seller thereof), and
					 the risk of loss of, or damage to, each Substitute Aircraft and the Aircraft
					 Documents related thereto shall pass from the Seller thereof to the Purchaser
					 thereof upon physical delivery of the Substitute Aircraft to such Purchaser or
					 upon delivery of the Bill of Sale for such Aircraft to such Purchaser by such
					 Seller, as the case may be, or upon transfer of the Beneficial Interest in
					 respect thereof, as the case may be, pursuant to Section 3.4(a) or (b). If an
					 Event of Loss has occurred on or 
 

 

		
		   

		  
			 18
		  

		  

		  
  

		 

		
		  prior
			 to, or any unrepaired Material Damage with respect to any Aircraft (other than
			 a Substitute Aircraft) is in existence on the applicable BI Transfer Date in
			 the case of any BI Aircraft or the applicable Delivery Date in the case of any
			 Independent Aircraft and is not waived as a failed condition precedent to the
			 occurrence of such Delivery Date or BI Transfer Date by GECC, the applicable
			 Seller and the Purchaser with a Rating Agency Confirmation and the consent of
			 the Policy Provider, then upon notification of the existence of such unrepaired
			 Material Damage or the occurrence of an Event of Loss on such Delivery Date or
			 BI Transfer Date by any party hereto to the other parties hereto within six (6)
			 months from such BI Transfer Date or Delivery Date, the sale of such Beneficial
			 Interest or Independent Aircraft shall be deemed rescinded automatically and
			 Section 5.3 shall apply thereto.
 

		 

		
		  	
				  3.6

				  	
				  Each
					 Aircraft to be sold hereunder shall be delivered to the Purchaser (or in the
					 case of the BI Aircraft, deemed delivered on the applicable BI Transfer Date to
					 Genesis Funding) “AS IS” and “WHERE IS”, at the Delivery
					 Location and SUBJECT TO EACH AND EVERY DISCLAIMER OF WARRANTY AND
					 REPRESENTATION AS SET OUT IN SECTION 12 but without limiting any
					 representation, warranty or covenant of GECC or any other Seller expressly set
					 forth herein and/or in the Bill of Sale or Acknowledgement of Delivery (as the
					 case may be) and/or Assignment of Beneficial Interest for, or in respect of,
					 such Aircraft (together with, in the case of any Beneficial Interest consisting
					 of capital stock or equity interest, the certificate representing the same)
					 delivered pursuant to this Agreement. Subject to receipt or satisfaction or
					 waiver of the conditions precedent referred to in Section 7 applicable thereto
					 and the other provisions of this Agreement, each Purchaser of an Aircraft or of
					 the related Beneficial Interest shall unconditionally accept such Aircraft or
					 Beneficial Interest for all purposes hereunder upon tender of a Bill of Sale or
					 an Acknowledgement of Delivery or of an Assignment of Beneficial Interest
					 (together with, in the case of any Beneficial Interest consisting of capital
					 stock or equity interest certificates representing the same), as the case may
					 be, in accordance with Section 3.4 and the other provisions of this Agreement
					 in the condition in which such Aircraft exists on the Delivery Date (or in the
					 case of any BI Aircraft, on the applicable BI Transfer Date). Acceptance by any
					 Purchaser of a Bill of Sale or of physical delivery as set forth in an
					 Acknowledgement of Delivery in respect of any Aircraft or of an Assignment of
					 Beneficial Interest in respect of any Aircraft then owned by any Purchaser
					 thereof shall constitute an acknowledgement by such Purchaser for the purposes
					 of this Agreement that such Aircraft is in every respect satisfactory to such
					 Purchaser, provided that the foregoing is not intended nor shall the same be
					 construed as a waiver by such Purchaser of any claim that it may have against
					 GECC or any other Seller for breach of any representation, warranty or covenant
					 expressly contained in this Agreement.
 

 

		 

		
		  	
				  3.7

				  	
				  Prior to
					 the Delivery of any Aircraft, the relevant Purchaser and/or its agents,
					 representatives and designees shall have the right, on reasonable prior notice
					 and at such Purchaser’s cost and expense, to inspect such Aircraft on and
					 subject to the terms of the applicable Lease.
 

 

		
		   

		  
			 19
		  

		  

		  
  

		 

		
		  	
				  4.

				  	
				  SUBSTITUTE
					 AND UNDELIVERED AIRCRAFT
 

 

		 

		
		  	4.1	(a)	
				   If any
					 Seller is unable to effect Delivery of, or Transfer with respect to, any
					 Aircraft at any time prior to the 30th day
					 before the Delivery Expiry Date for any reason (including, without limitation,
					 the failure of one or more of the conditions set forth in Exhibit E-2 or
					 Section 7.2 but excluding an Event of Loss or Material Damage in respect of
					 such Aircraft), then, in each such case, such Aircraft shall become a
					 “Remaining Aircraft” and the provisions of Section 4.1(b) and (c) and
					 Section 4.2 shall apply. 
 

 

		 

		
		  	 	
				  (b)

				  	
				  If an
					 Aircraft becomes a Remaining Aircraft, then GECC shall promptly inform Genesis
					 Funding and the Policy Provider thereof specifying the reason therefor and
					 shall use reasonable commercial efforts to designate in lieu thereof one or
					 more substitute aircraft that is reasonably acceptable to the Purchaser to be
					 delivered on or before the Delivery Expiry Date that (i) is subject to an
					 operating lease contract containing the Core Lease Provisions, (ii) has the
					 same or greater Average Base Value as of the date of Delivery thereof as such
					 undelivered Remaining Aircraft as of the Delivery of the Substituted Aircraft,
					 (iii) does not result in a Concentration Default under the Indenture, (iv) is
					 subject to an operating lease contract or contracts providing for a similar
					 rent profile and term as such undelivered Remaining Aircraft, (v) has a similar
					 remaining useful life as such undelivered Remaining Aircraft, (vi) such
					 Substitute Aircraft is not a cargo or regional jet aircraft or, if such
					 Substitute Aircraft is a cargo or regional jet aircraft, it is being
					 substituted for an Aircraft of the same category and (vii) in respect of which
					 GECC shall have obtained a Rating Agency Confirmation and the prior written
					 consent of the Policy Provider with respect to the substitution of such
					 Remaining Aircraft (each, a “Substitute
					 Aircraft”),
					 provided,
					 however, that
					 the consent of the Policy Provider shall not be required for such substitution
					 if the Rating Agencies have confirmed that such substitution will not result in
					 an adverse change to the Policy Provider’s capital charge associated with
					 the Class G-1 Notes or the ratings assigned to the Class G-1 Notes by each
					 Rating Agency (without regard to the Policy).
 

 

		 

		
		  	 	
				  (c)

				  	
				  At least
					 three Business Days but not more than five Business Days prior to the Delivery
					 Date of a Substitute Aircraft, (i) GECC shall provide Genesis Funding, the
					 Indenture Trustee and the Manager a certification of the amount of maintenance
					 contributions made and Additional Rent received by the relevant lessor for such
					 Substitute Aircraft after the AP Closing Date, and (ii) Genesis Funding shall
					 provide GECC, the Indenture Trustee and the Manager a certification of the
					 amount of maintenance contributions made by or on behalf of Genesis Funding and
					 Additional Rent received from the applicable Seller or GECC for the related
					 Remaining Aircraft after the AP Closing Date, and on such Delivery Date, each
					 of GECC and Genesis Funding shall confirm such amounts to the Indenture Trustee
					 and the Manager. Upon the Delivery of a Substitute Aircraft, the Remaining
					 Aircraft which was replaced by such Substitute Aircraft shall cease to be
					 subject to this Agreement and all rights and obligations of the parties
					 hereunder concerning such Remaining Aircraft shall cease, and such
					 
 

 

		
		   

		  
			 20
		  

		  

		  
  

		 

		
		  Substitute
			 Aircraft shall become and thereafter be subject to the terms and conditions of
			 this Agreement to the same extent as such Remaining Aircraft, except as to any
			 matters (other than the matters referred to in Section 4.1(b)) which may be
			 agreed as to such Substitute Aircraft, which shall be set forth in a Substitute
			 Aircraft Supplement, except that the substitution of any Aircraft shall not
			 effect GECC’s obligations under Section 4.2 (provided always that, for the
			 avoidance of doubt, until a Substitute Aircraft is so delivered for a Remaining
			 Aircraft, such Remaining Aircraft shall continue to be subject to this
			 Agreement). On the Delivery Date of a Substitute Aircraft, GECC shall pay or
			 cause the Seller thereof to pay to the Purchaser thereof, an amount, or, if
			 such amount is a negative number, Genesis Funding shall pay or cause the
			 Purchaser thereof to pay to GECC, the Substitute Aircraft Adjustment Amount.
			 Genesis Funding shall promptly thereafter repay to GECC the amount of the cash
			 Security Deposits, if any, Genesis Funding then holds for such Remaining
			 Aircraft and GECC shall promptly pay to Genesis Funding the amount of the cash
			 Security Deposits, if any, GECC or the Existing Lessor then holds for such
			 Substitute Aircraft.
 

		 

		
		  	 	
				  (d)

				  	
				  If an
					 Aircraft (including a BI Aircraft) shall have suffered an Event of Loss or
					 Material Damage, the applicable Seller may, but shall not be obligated to,
					 designate a Substitute Aircraft in respect of such Aircraft, and, if no
					 Substitute Aircraft shall have been designated therefor as provided above, then
					 the Seller shall have no obligation to deliver and the Purchaser shall have no
					 obligation to accept delivery of such Aircraft hereunder.
 

 

		 

		
		  	
				  4.2

				  	
				  If any
					 Aircraft shall not have been delivered on or prior to the Delivery Expiry Date
					 for any reason (whether as a result of an Event of Loss or otherwise), or if
					 the Beneficial Interest of any Genesis Funding Entity is not transferred on or
					 prior to the Delivery Expiry Date for any reason, and provided no Substitute
					 Aircraft shall have been delivered in substitution therefor on or prior to the
					 Delivery Expiry Date then (unless such Aircraft shall have suffered an Event of
					 Loss or Material Damage in respect of which GECC shall be obligated to account
					 to the Purchaser in accordance with the provisions of Section 5.3 hereof) on
					 such date GECC irrevocably and unconditionally agrees to pay, or cause the
					 Seller thereof to pay, and, without duplication thereof, the Seller thereof
					 irrevocably and unconditionally agrees to pay, to Genesis Funding an amount
					 equal to the Aircraft Refund Amount with respect to such Aircraft. In addition,
					 Genesis Funding shall promptly thereafter repay to GECC the amount of the cash
					 Security Deposits, if any, Genesis Funding then holds for such Aircraft. If on
					 the Delivery Expiry Date the Lessee of any such Aircraft is then in default in
					 the payment of basic rent under its Lease of such Aircraft in respect of the
					 period on or after the AP Closing Date and prior to the Delivery Expiry Date,
					 Genesis Funding agrees to pay promptly following its or another Genesis Funding
					 Entity’s receipt thereof, the amount of any such basic rent thereafter
					 received by or on behalf of the Lessor of such Aircraft in respect of the
					 period from and including the AP Closing Date to but excluding the Delivery
					 Expiry Date.
 

 

		 

		
		  	
				  4.3

				  	
				  Except
					 as otherwise expressly provided in Sections 4.1, 4.2 and 5.3, if Delivery of an
					 Aircraft (or Beneficial Interest pertaining thereto) under this Agreement is
					 delayed or does not occur for any reason outside the control of the Seller of
					 such Aircraft, including 
 

 

		
		   

		  
			 21
		  

		  

		  
  

		 

		
		  by
			 reason of the lack of cooperation of any Lessee or other person (other than
			 such Seller or any of its Affiliates), neither GECC nor the Seller thereof will
			 be responsible for any damages, losses, including loss of profit, costs,
			 expenses, liabilities, demands, payments, claims or action arising from or in
			 connection with the delay or failure suffered or incurred by the
			 Purchaser.
 

		 

		
		  	
				  5.

				  	
				  PAYMENTS

				  

 

		 

		
		  	
				  5.1

				  	
				  Genesis
					 Funding shall pay, for the account of the Purchaser of each Independent
					 Aircraft or BI Aircraft, as the case may be, to GECC for the account of the
					 Seller thereof, on each date on or after the AP Closing Date as GECC notifies
					 Genesis Funding that the applicable Independent Aircraft or BI Aircraft, as the
					 case may be, is in a Designated Jurisdiction, the Aircraft Purchase Price for
					 such Independent Aircraft or BI Aircraft (as such Aircraft Purchase Price shall
					 be adjusted upwards by an amount equal to the investment proceeds allocable in
					 respect of such Aircraft Purchase Price as provided in Section 3.04(j) of
					 the Indenture), subject only to the receipt by Genesis Funding of each of the
					 following:
 

 

		 

		
		  	 	
				  (a)

				  	
				  the
					 rents attributable to the period after the AP Closing Date referred to in
					 Section 5.2 hereof together with a statement addressed to Genesis Funding
					 identifying the same;
 

 

		 

		
		  	 	
				  (b)

				  	
				  the
					 Security Deposits referred to in Section 5.4 hereof;
 

 

		 

		
		  	 	
				  (c)

				  	
				  an
					 opinion of independent and in-house counsel as applicable to GECC in the Agreed
					 Form as to the due execution and delivery of the Guaranty and as to such other
					 matters relating thereto as Genesis Funding may reasonably request;
					 
 

 

		 

		
		  	 	
				  (d)

				  	
				  the
					 Guaranty duly executed and delivered by GECC;
 

 

		 

		
		  	 	
				  (e)

				  	
				  a
					 certification in the Agreed Form from a duly authorized officer of GECC and
					 each other Seller to the effect that the representations and warranties of GECC
					 and each other Seller set forth herein are true and correct as of the AP
					 Closing Date;
 

 

		 

		
		  	 	
				  (f)

				  	
				  a copy,
					 certified by a duly authorized officer of GECC to be a true, complete and
					 up-to-date, of the certificate of incorporation and by-laws of
					 GECC;
 

 

		 

		
		  	 	
				  (g)

				  	
				  a copy,
					 certified by a duly authorized officer of GECC and each other Seller to be a
					 true, complete and up-to-date, of the resolutions of the Board of Directors (or
					 duly authorized committee thereof) of GECC and each other Seller,
					 (i) approving the transactions contemplated by this Agreement, the
					 Guaranty and the other Operative Documents to which GECC and each other Seller
					 is a party, and (ii) authorizing a Person or Persons to sign and deliver
					 on behalf of GECC and each other Seller, this Agreement, the Guaranty and the
					 other Operative Documents to which GECC and each other Seller is a party and
					 any notices or other documents to be given pursuant hereto or thereto;
					 
 

 

		
		   

		  
			 22
		  

		  

		  
  

		 

		
		  	 	
				  (h)

				  	
				  certified
					 copies of organizational documents (including certificates or articles of
					 incorporation, by-laws, limited liability company agreements, Formation
					 Agreements and documents of a similar nature) of such Genesis Funding Entity
					 (if then in existence); and
 

 

		 

		
		  	 	
				  (i)

				  	
				  the
					 First Disclosure Letter.
 

 

		 

		
		  	
				  5.2

				  	
				  If, on
					 or before the AP Closing Date (and, for the avoidance of doubt, irrespective of
					 whether or not the Delivery Date for any Asset shall have occurred), GECC, any
					 Seller or any Existing Lessor shall have received from any Lessee any rent
					 (which, for avoidance of doubt, shall not include any Additional Rent) under
					 any Lease in respect of the period subsequent to the AP Closing Date, then on
					 the AP Closing Date GECC shall pay or cause the Seller of the Asset subject to
					 such Lease to pay to Genesis Funding (for account of the Purchaser thereof) an
					 amount equal to the portion of any rent received by or on behalf of such Seller
					 or Existing Lessor, as applicable which relates to the period subsequent to the
					 AP Closing Date less any Taxes that GECC or the applicable Seller of the
					 Aircraft is required by law to withhold. In respect of the Aircraft bearing
					 manufacturer’s serial numbers 29547 (AA), 30097 (AA), 1586 (UAL) and 1617
					 (UAL), any payment of rent received in arrears by Genesis Funding which relates
					 to the period prior to the AP Closing Date shall paid over by Genesis Funding
					 to GECC less any Taxes that GECC or the applicable Seller of the Aircraft is
					 required by law to withhold. Additional Rent paid after the AP Closing Date
					 shall be paid to or retained by Genesis Funding.
 

 

		 

		
		  	
				  5.3

				  	
				  From and
					 after the AP Closing Date and to and including the earlier to occur of the
					 Delivery Expiry Date and the Delivery Date for any Aircraft (if other than the
					 AP Closing Date), GECC shall cause the Servicer to perform rent collection
					 services under the Servicing Agreement on behalf of the relevant Purchaser and
					 shall cause any and all rent and other sums paid by the Lessees under the
					 Leases (except loss proceeds in respect of Material Damage or an Event of Loss
					 in respect of an Aircraft) and received by or on behalf of the relevant
					 Existing Lessor under the related Lease in respect of any period from and after
					 the AP Closing Date, and with respect to amounts received in payment of rent
					 under such Lease, in respect of any period from and after the AP Closing Date,
					 in each instance, to be paid to Genesis Funding Limited (for account of the
					 relevant Purchaser) within two Business Days of receipt thereof and each such
					 payment to be accompanied by a statement identifying the Lease under which such
					 payment was received and the nature of the payment whether constituting basic
					 rent, Additional Rent or otherwise. From and after the AP Closing Date, all
					 maintenance contribution obligations, airworthiness directive cost sharing
					 obligations and similar obligations of a lessor in respect of the Aircraft in
					 respect of any claim therefor under a Lease made after the AP Closing Date
					 shall be the obligation of the Seller if the applicable maintenance was
					 completed prior to the AP Closing Date and the obligation of Genesis Funding if
					 the applicable maintenance was completed on or after the AP Closing Date and
					 will be paid in accordance with the terms of the Indenture and the Servicing
					 Agreement. Notwithstanding the foregoing, (i) if an Aircraft suffers an
					 Event of Loss or unrepaired Material Damage prior to its Delivery, neither GECC
					 nor the Seller shall be obligated to pay to the Purchaser thereof any loss
					 proceeds received in respect thereof and (ii) in
 

 

		
		   

		  
			 23
		  

		  

		  
  

		 

		
		   respect
			 of any Aircraft which suffers an Event of Loss or unrepaired Material Damage
			 after the AP Closing Date but prior to the Delivery Expiry Date and in respect
			 of which no Substitute Aircraft has been designated pursuant to the terms of
			 this Agreement, on the Delivery Expiry Date or, in the case of a deemed
			 rescission of the sale of any Beneficial Interest or Independent Aircraft
			 pursuant to Section 3.5, on the date of such deemed rescission, GECC shall pay,
			 or cause the Seller thereof to pay, and, without duplication thereof, the
			 Seller shall pay, to Genesis Funding the Aircraft Refund Amount with respect to
			 such Aircraft. In addition, Genesis Funding shall promptly thereafter repay to
			 GECC the amount of the cash Security Deposits, if any, Genesis Funding then is
			 deemed to hold for such Aircraft. If the applicable BI Transfer Date or
			 Delivery Date occurs while unrepaired Material Damage or an Event of Loss is in
			 existence with respect to any Aircraft but not waived as provided in Section
			 3.5 and is thereafter notified to the parties hereto, Genesis Funding shall
			 promptly retransfer to the Seller, at a time and place determined by Genesis
			 Funding, the applicable Beneficial Interest or Independent Aircraft, and the
			 related Lease, in the same manner mutatis
			 mutandis as by
			 the applicable Seller hereunder, and with the same warranties and
			 representations mutatis
			 mutandis given
			 by the applicable Seller hereunder (but only in respect of the period on and
			 after the AP Closing Date) and the applicable Seller shall be entitled to the
			 benefits of, and shall assume, such rights, duties, obligations and liabilities
			 of the applicable Genesis Funding Entity (including to reimburse such Genesis
			 Funding Entity for out of pocket costs paid by such Genesis Funding Entity
			 during such period with respect to such Aircraft that are not otherwise
			 accounted for in the Aircraft Refund Amount) in respect of the applicable
			 Beneficial Interest or Independent Aircraft, and the related Lease, as were
			 previously transferred to or assumed by such Genesis Funding Entity in respect
			 of the applicable Beneficial Interest or Independent Aircraft, plus all loss
			 proceeds received by the Purchaser in respect thereof, whereupon GECC and
			 Genesis Funding shall make the payments described above. If the Delivery Expiry
			 Date has not occurred when such unrepaired Material Damage or Event of Loss
			 becomes known to a party hereto, the Substitute Aircraft provisions hereof
			 shall be applicable to the extent provided above in respect of an Aircraft that
			 has suffered an Event of Loss.
 

		 

		
		  	
				  5.4

				  	
				  On the
					 AP Closing Date, GECC shall cause an amount equal to the Security Deposit held
					 by or on behalf of each Existing Lessor in cash (if any) for each Aircraft to
					 be paid and delivered by the Seller thereof to Genesis Funding (for account of
					 the Purchaser thereof).
 

 

		 

		
		  	
				  5.5

				  	
				  Each
					 relevant Seller shall (a) on the AP Closing Date, on the BI Transfer Date for
					 each BI Aircraft and the Delivery Date for each Independent Aircraft deliver to
					 Genesis Funding a certification in the Agreed Form from a duly authorized
					 officer of such Seller setting forth in reasonable detail (i) the amounts of
					 Basic Rent in respect of such Aircraft (and, if such Aircraft is a Substitute
					 Aircraft, the corresponding amounts relating to the related Remaining Aircraft)
					 received (and any amounts applied from the Security Deposit relating to such
					 Aircraft due to non-payments of amounts owing by the Lessee) by or on behalf of
					 the related Seller or Existing Lessor, as applicable, which relates in each
					 case to the period subsequent to the AP Closing Date, (ii) on the AP Closing
					 Date only, the amount of the maximum maintenance contribution obligation
					 calculated with reference to Additional Rent with respect to each Aircraft
					 which could be payable by the related Seller or Existing Lessor, as applicable,
					 as of the AP Closing Date, (iii) the amount (the 
 

 

		
		   

		  
			 24
		  

		  

		  
  

		 

		“SR
		  Transfer Amount”)
		  of any Additional Rent with respect to such Aircraft paid to the related Seller
		  or Existing Lessor, as applicable, with respect to the period from (and
		  including) the AP Closing Date to (and including) such BI Transfer Date (in the
		  case of a BI Aircraft) or such Delivery Date (in the case of an Independent
		  Aircraft), and (iv) a description of any Security Deposit (separately setting
		  forth the amount of any thereof in cash) for such Aircraft deemed held by or on
		  behalf of the related Seller or Existing Lessor, as applicable, as of the AP
		  Closing Date (in the case of all Aircraft) and as of such BI Transfer Date (in
		  the case of a BI Aircraft) or Delivery Date (in the case of an Independent
		  Aircraft) and (b) during the period from the AP Closing Date to the relevant BI
		  Transfer Date (in the case of a BI Aircraft) or the relevant Delivery Date (in
		  the case of an Independent Aircraft), promptly notify Genesis Funding, the
		  Indenture Trustee and the Manager of the receipt by the relevant Seller or
		  Existing Lessor, as applicable, of any Basic Rent payment in respect of each
		  Aircraft (including any Substitute Aircraft and its related Remaining Aircraft)
		  relating to the period subsequent to the AP Closing Date and the amount thereof
		  (or if such payment has not been made as scheduled, the amount, if any, applied
		  from the related Security Deposit due to such non-payment and whether such
		  applied amount has been replenished to the Security Deposit).
		  

		 

		
		  	
				  5.6

				  	
				  All
					 amounts payable under this Agreement will be made for value on the due date in
					 Dollars in immediately available funds (and to the extent not expressly
					 provided herein) to such account as (in the case of any payment due to GECC or
					 any Seller) GECC or as (in the case of any payment due to Genesis Funding or
					 any Purchaser) Genesis Funding Limited may notify Genesis Funding or GECC, as
					 the case may be, from time to time (upon three Business Days’ prior
					 written notice). In furtherance of the foregoing, each Purchaser hereby
					 instructs GECC and each Seller to make each payment due to Genesis Funding or
					 any other Purchaser hereunder to the Collections Account with advice of credit
					 to the Manager and in sufficient detail to enable the Manager to determine the
					 Lease under or in respect of which such payment is being made and the nature
					 thereof.
 

 

		 

		
		  	
				  5.7

				  	
				  If the
					 party making payment (the “Paying
					 Party”)
					 fails to pay any amount payable under this Agreement on the due date, the
					 Paying Party will pay on demand from time to time to the other party (the
					 “Receiving
					 Party”)
					 interest (both before and after judgment) on that amount, from the due date to
					 the date of payment in full by the Paying Party to the Receiving Party, at the
					 rate of LIBOR. All such interest will be compounded monthly and calculated on
					 the basis of the actual number of days elapsed and a 360 day year.

				  

 

		 

		
		  	
				  5.8

				  	
				  Each
					 Purchaser and Genesis Funding irrevocably and unconditionally:

				  

 

		 

		
		  	 	
				  (i)

				  	
				  guarantees,
					 as a primary obligation, to each Seller and GECC the due and punctual payment
					 to such Seller or GECC, as the case may be, by each other Purchaser of all
					 monies due from such other Purchaser hereunder and will pay to such Seller from
					 time to time, on the first Payment Date falling at least five Business Days
					 after written demand therefor, any and every sum of money which such other
					 Purchaser shall at any time be liable to pay to such Seller
					 hereunder;
 

 

		 

		
		  	 	
				  (ii)

				  	
				  undertakes
					 as a primary obligation to indemnify each Seller and GECC from time to time on
					 demand from and against any loss incurred by such Seller or GECC, as
					 
 

 

		
		   

		  
			 25
		  

		  

		  
  

		 

		the case
		  may be, as a result of any obligation of any other Purchaser to pay to such
		  Seller or GECC, as the case may be, any amounts hereunder being or becoming
		  void, voidable, unenforceable or ineffective as against such other Purchaser,
		  for any reason (whether or not known to any Seller or GECC), the amount of such
		  loss being the amount which such Seller would otherwise have been entitled to
		  recover from such other Purchaser; and

		 

		
		  	 	
				  (iii)

				  	
				  authorizes
					 each Seller and GECC (in their sole discretion by notice to Genesis Funding)
					 from time to time to set off, apply or combine all or any amounts for the time
					 being due from any Seller or GECC, as the case may be, to any Purchaser towards
					 the repayment or discharge of any amount for the time being due to a Seller or
					 GECC from Genesis Funding pursuant to the above.
 

 

		 

		Each
		  Purchaser acknowledges that:

		 

		
		  	 	
				  (a)

				  	
				  neither
					 its above-described liability nor the rights, powers and remedies conferred on
					 a Seller or GECC by this Section or by law shall be discharged, impaired or
					 otherwise affected by any act, event or omission which would otherwise operate
					 to discharge, impair or otherwise affect such liability or such rights, powers
					 or remedies, and
 

 

		 

		
		  	 	
				  (b)

				  	
				  so long
					 as it is under the above-described liability, it shall not exercise any rights
					 or remedies which it may at any time have to be indemnified by or claim any
					 contribution from any other Purchaser.
 

 

		 

		
		  	
				  5.9

				  	
				  GECC
					 authorizes Genesis Funding (in its sole discretion by notice to GECC) from time
					 to time to set off, apply or combine all or any amounts for the time being due
					 from Genesis Funding or any other Purchaser to GECC or any other Seller towards
					 the repayment or discharge of any and all amounts for the time being due to
					 Genesis Funding or any other Purchaser from GECC or any other Seller hereunder
					 or under the Guaranty.
 

 

		 

		
		  	
				  6.

				  	
				  CONDITIONS
					 PRECEDENT - SELLER
 

 

		 

		
		  	
				  6.1

				  	
				  The
					 obligations of any Seller to sell, transfer or deliver any Aircraft or
					 Beneficial Interest of any Genesis Funding Entity hereunder are subject to the
					 satisfaction of the following express conditions precedent on or prior to the
					 applicable BI Transfer Date in the case of any Beneficial Interest or the
					 applicable Delivery Date in the case of any Independent Aircraft, as the case
					 may be:
 

 

		 

		
		  	 	
				  (a)

				  	
				  the
					 relevant Operative Documents for such Aircraft have been entered into by the
					 parties thereto (other than GECC and any Seller);
 

 

		 

		
		  	 	
				  (b)

				  	
				  the
					 Servicing Agreement shall have been entered into by the parties thereto (other
					 than GECC and any other Seller);
 

 

		 

		
		  	 	
				  (c)

				  	
				  GECC
					 shall be satisfied that the Delivery Location does not give rise to any Taxes;
					 and
 

 

		
		   

		  
			 26
		  

		  

		  
  

		 

		
		  	 	
				  (d)

				  	
				  Seller
					 thereof shall have received payment of all amounts due by the Purchaser of such
					 Aircraft.
 

 

		 

		
		  	
				  6.2

				  	
				  The
					 obligation of the BI Seller to sell, transfer or deliver any Beneficial
					 Interest hereunder is further subject to the condition that such BI Seller has
					 received on or prior to the AP Closing Date or, in the case of subsections (c)
					 through (h) below, the applicable BI Transfer Date:
 

 

		 

		
		  	 	
				  (a)

				  	
				  a copy
					 of the constitutional documents of the Purchaser and any other Affiliate of
					 such Purchaser which is a party to any Operative Document in respect of such
					 Aircraft, certified, or subject to a certificate confirming no change thereto,
					 such certification to be dated not more than ten days prior to the expected
					 Delivery Date for such Aircraft to be a true, complete and up-to-date
					 copy;
 

 

		 

		
		  	 	
				  (b)

				  	
				  a copy
					 of resolutions of the directors or other applicable governing body of such
					 Purchaser and any other Affiliate of such Purchaser which is a party to any
					 Operative Document in respect of the related Aircraft certified, or subject to
					 a certificate confirming no change to such resolutions, such certification to
					 be dated not more than ten days prior to the expected BI Transfer Date for such
					 Beneficial Interest to be a true, complete and up-to-date copy:

				  

 

		 

		
		  	 	
				  (i)

				  	
				  approving
					 the transactions contemplated by this Agreement and the other Operative
					 Documents to which such Purchaser is or is to be a party; and

				  

 

		 

		
		  	 	
				  (ii)

				  	
				  authorizing
					 a Person or Persons to execute and deliver on behalf of such Purchaser this
					 Agreement and the other Operative Documents to which it is or is to be a party
					 and any notices or other documents to be given pursuant hereto or
					 thereto;
 

 

		 

		
		  	 	
				  (c)

				  	
				  evidence
					 that all governmental and other licenses, approvals, certificates, exemptions,
					 consents, registrations and filings necessary in the relevant State of
					 Registration and any other relevant jurisdiction (including the domicile of the
					 Lessee of the related Aircraft) for any matter or thing contemplated by this
					 Agreement and the other applicable Operative Documents for the related
					 Aircraft, and any notices or other documents to be given pursuant hereto or
					 thereto and for the legality, validity, enforceability, admissibility in
					 evidence and effectiveness hereof and thereof have been obtained or effected on
					 an unconditional basis and remain in full force and effect (or in the case of
					 effecting any licenses, approvals, consents, certificates, exemptions,
					 registrations and filings, that arrangements reasonably satisfactory to such
					 Seller have been made for the effectiveness of the same within any applicable
					 time limit);
 

 

		 

		
		  	 	
				  (d)

				  	
				  a
					 favorable opinion of independent counsel to such Purchaser dated as of such BI
					 Transfer Date reasonably acceptable to such Seller in the Agreed Form as to (1)
					 certain of the matters set out in Section 9 and (2) such other matters as such
					 Seller may reasonably request with regard to the subject matter contemplated
					 herein or in each case such Aircraft;
 

 

		
		   

		  
			 27
		  

		  

		  
  

		 

		
		  	 	
				  (e)

				  	
				  a quiet
					 enjoyment letter with respect to the related Aircraft and the Lease thereof
					 from the Security Trustee, and, if requested by the Seller, from Genesis
					 Funding addressed to the relevant Lessee (and, if applicable, the relevant
					 sublessee) in substantially the form attached to the relevant Operative
					 Document;
 

 

		 

		
		  	 	
				  (f)

				  	
				  a
					 certification from Genesis Funding that its representations and warranties in
					 Section 9.1 are true and correct as of such BI Transfer Date;

				  

 

		 

		
		  	 	
				  (g)

				  	
				  if
					 requested by the Seller, a guaranty from Genesis Funding to the Lessee;
					 and
 

 

		 

		
		  	 	
				  (h)

				  	
				  the
					 insurance certificate described in Section 7.1(g)(xi).
 

 

		 

		
		  	
				  6.3

				  	
				  The
					 obligations of any Independent Seller to deliver any Independent Aircraft
					 hereunder are further subject to the condition that on or prior to the AP
					 Closing Date or, in the case of subsections (c) through (h) below, the Delivery
					 Date for any Independent Aircraft, such Seller has received: 

				  

 

		 

		
		  	 	
				  (a)

				  	
				  a copy
					 of the constitutional documents of the Purchaser and any other Affiliate of
					 such Purchaser which is a party to any Operative Document in respect of such
					 Aircraft, certified, or subject to a certificate confirming no change thereto,
					 such certification to be dated not more than ten days prior to the expected
					 Delivery Date for such Aircraft to be a true, complete and up-to-date
					 copy;
 

 

		 

		
		  	 	
				  (b)

				  	
				  a copy
					 of resolutions of the directors or other applicable governing body of such
					 Purchaser and any other Affiliate of such Purchaser which is a party to any
					 Operative Document in respect of such Aircraft certified, or subject to a
					 certificate confirming no change to such resolutions, such certification to be
					 dated not more than ten days prior to the expected Delivery Date for such
					 Aircraft to be a true, complete and up-to-date copy:
 

 

		 

		
		  	 	
				  (i)

				  	
				  approving
					 the transactions contemplated by this Agreement and the other Operative
					 Documents to which such Purchaser is or is to be a party; and

				  

 

		 

		
		  	 	
				  (ii)

				  	
				  authorizing
					 a Person or Persons to execute and deliver on behalf of such Purchaser this
					 Agreement and the other Operative Documents to which it is or is to be a party
					 and any notices or other documents to be given pursuant hereto or thereto;
					 
 

 

		 

		
		  	 	
				  (c)

				  	
				  evidence
					 that all governmental and other licenses, approvals, certificates, exemptions,
					 consents, registrations and filings necessary in the relevant State of
					 Registration and any other relevant jurisdiction (including the domicile of the
					 Lessee of such Aircraft) for any matter or thing contemplated by this Agreement
					 and the other applicable Operative Documents for such Aircraft, and any notices
					 or other documents to be given pursuant hereto or thereto and for the legality,
					 validity, enforceability, admissibility in evidence and effectiveness hereof
					 and thereof have been obtained or effected on an unconditional basis and remain
					 in full force and effect (or in the case of effecting any licenses, approvals,
					 consents, certificates, exemptions, registrations and filings, that
					 arrangements reasonably 
 

 

		
		   

		  
			 28
		  

		  

		  
  

		 

		satisfactory
		  to such Seller have been made for the effectiveness of the same within any
		  applicable time limit);

		 

		
		  	 	
				  (d)

				  	
				  a
					 favorable opinion of independent counsel to such Purchaser dated as of such
					 Delivery Date reasonably acceptable to such Seller in the Agreed Form as to (1)
					 certain of the matters set out in Section 9 and (2) such other matters as such
					 Seller may reasonably request with regard to the subject matter contemplated
					 herein or in each case such Aircraft;
 

 

		 

		
		  	 	
				  (e)

				  	
				  a quiet
					 enjoyment letter with respect to such Aircraft and the Lease thereof from the
					 Security Trustee, and, if requested by the Seller, from Genesis Funding
					 addressed to the relevant Lessee (and, if applicable, the relevant sublessee)
					 in substantially the form attached to the relevant Operative
					 Document;
 

 

		 

		
		  	 	
				  (f)

				  	
				  a
					 certification from Genesis Funding that its representations and warranties in
					 Section 9.1 are true and correct as of the Delivery Date;
 

 

		 

		
		  	 	
				  (g)

				  	
				  if
					 requested by the Seller, a guaranty from Genesis Funding to a Lessee;
					 and
 

 

		 

		
		  	 	
				  (h)

				  	
				  the
					 insurance certificate described in Section 7.1(g)(xi).
 

 

		 

		
		  	
				  7.

				  	
				  CONDITIONS
					 PRECEDENT - PURCHASER
 

 

		 

		
		  	
				  7.1

				  	
				  The
					 obligation of Genesis Funding to purchase the Beneficial Interest of any
					 Genesis Funding Entity on the applicable BI Transfer Date is subject to
					 satisfaction of the following express conditions precedent on such BI Transfer
					 Date, subject to the right of Genesis Funding to waive any condition pursuant
					 to Section 7.4(a):
 

 

		 

		
		  	 	
				  (a)

				  	
				  Except
					 in respect of transfers on the AP Closing Date, Genesis Funding shall have
					 received notice of the expected BI Transfer Date at least four Business Days
					 prior thereto;
 

 

		 

		
		  	 	
				  (b)

				  	
				  Genesis
					 Funding shall have received (i) the documents referred to in Section 2.1 and
					 the documents referred to in Exhibit E-1 in connection with the Deliveries of
					 the related BI Aircraft (other than as listed on Schedule 4) and (ii) a
					 certificate from a duly authorized officer of GECC dated such BI Transfer Date
					 stating that (A) the conditions set forth in Exhibit E-1 with respect to the
					 Delivery of such BI Aircraft have been satisfied or otherwise disclosed in the
					 First Disclosure Letter and such documents are unchanged and are in full force
					 and effect as of such BI Transfer Date (except for amendments and terminations
					 permitted under the Servicing Agreement), (B) the representations and
					 warranties of the Seller (or its Affiliate) of such BI Aircraft and of such
					 Genesis Funding Entity contained in the Assignment of Lease or Lease Novation,
					 as applicable, for such BI Aircraft were true and correct as of the date of
					 such Assignment of Lease or Lease Novation, as applicable, and (C) except
					 in the case of the Skymark Aircraft, the bill of sale for, or physical delivery
					 of (as acknowledged in the acknowledgement of delivery pertaining thereto), as
					 applicable, such BI Aircraft was effective to convey irrevocably full legal
					 and, subject to any Formation Agreement, beneficial title to 

				  

 

		
		   

		  
			 29
		  

		  

		  
  

		 

		the
		  Purchaser thereof on the relevant delivery date of transfer to the Genesis
		  Funding Entity;

		 

		
		  	 	
				  (c)

				  	
				  no
					 Material Default shall have occurred and be continuing as of the AP Closing
					 Date with respect to such BI Aircraft; 
 

 

		 

		
		  	 	
				  (d)

				  	
				  Genesis
					 Funding shall have received payment of all amounts due by the Seller thereof or
					 GECC in respect of such BI Aircraft;
 

 

		 

		
		  	 	
				  (e)

				  	
				  Genesis
					 Funding shall have received a certification from the BI Seller dated such BI
					 Transfer Date to the effect that (i) the representations and warranties of such
					 BI Seller hereunder are true and correct as of the AP Closing Date or such BI
					 Transfer Date, as the case may be, and (ii) such Genesis Funding Entity (except
					 with respect to the Skymark Aircraft) has full legal and, subject to any
					 Formation Agreement, beneficial title to such BI Aircraft, free from
					 Encumbrances other than Permitted Encumbrances;
 

 

		 

		
		  	 	
				  (f)

				  	
				  unless
					 and to the extent Genesis Funding shall otherwise agree, or a Rating Agency
					 Confirmation and the prior written consent of the Policy Provider shall have
					 been obtained with respect thereto, all the conditions precedent to the
					 effectiveness of the Assignment of Lease or Lease Novation, as applicable, for
					 such BI Aircraft shall have been satisfied and Genesis Funding shall have
					 received a certification from the BI Seller and GECC to such
					 effect;
 

 

		 

		
		  	 	
				  (g)

				  	
				  receipt
					 of the following documents by Genesis Funding:
 

 

		 

		
		  	 	
				  (i)

				  	
				  a list
					 from GECC specifying the BI Aircraft then owned by such Genesis Funding
					 Entity;
 

 

		 

		
		  	 	
				  (ii)

				  	
				  a
					 certificate of solvency dated as of such BI Transfer Date in the Agreed Form
					 relating to the BI Seller issued by a director or authorized officer thereof
					 and if such Seller is other than GECC, a certificate of solvency dated as of
					 such date in the Agreed Form relating to GECC issued by a director or
					 authorized officer of GECC;
 

 

		 

		
		  	 	
				  (iii)

				  	
				  a
					 favorable opinion of independent counsel to the BI Seller, dated as of the AP
					 Closing Date, reasonably acceptable to such Purchaser in the Agreed Form, that
					 the sale of such Beneficial Interest constitutes, or will constitute, a
					 “true-sale” and a valid transfer of title to such Beneficial Interest
					 and that after the Transfer of such Beneficial Interest such Seller retains, or
					 will retain, no interest in such Beneficial Interest and as to such other
					 matters as Genesis Funding may reasonably request with regard to the subject
					 matter contemplated herein;
 

 

		 

		
		  	 	
				  (iv)

				  	
				  to the
					 extent applicable, opinions dated as of such BI Transfer Date in the Agreed
					 Form from independent counsel to the BI Seller in each Delivery Location,
					 covering, without limitation, that, except if the Delivery Location is in the
					 United States or international airspace, the Transfer of 
 

 

		
		   

		  
			 30
		  

		  

		  
  

		 

		such
		  Beneficial Interest will not result in the imposition of any Tax in such
		  jurisdiction on Genesis Funding, any Subsidiary of Genesis Funding, such BI
		  Aircraft, the related Leases or otherwise in respect of such
		  Transfer;

		 

		
		  	 	
				  (v)

				  	
				  for such
					 BI Aircraft, an opinion dated as of such BI Transfer Date in the Agreed Form
					 from counsel to the relevant Seller in the relevant State of Registration or,
					 if applicable, the relevant jurisdiction of the Lessee to the effect that (A)
					 except if the State of Registration is the United States, the terms of the
					 relevant Lease or Novated Lease or Assigned Lease and the relevant Operative
					 Documents and the other Lease Documents are legal, valid, binding and
					 enforceable under the laws of such country to the extent necessary to enable
					 the applicable Genesis Funding Entity to receive the practical benefits of its
					 rights thereunder, (B) except in the case of the Skymark Aircraft, such Genesis
					 Funding Entity is the owner of record of such Aircraft in the registry or
					 otherwise shall be recognized as the legal owner of such Aircraft under the
					 applicable laws of such jurisdiction, (C) except if the State of Registration
					 is the United States, it is not necessary for such Genesis Funding Entity as a
					 result of its ownership of such Aircraft to qualify to do business in such
					 jurisdiction as a result of its ownership of such Aircraft and it is not
					 necessary for such Genesis Funding Entity to qualify to do business in such
					 jurisdiction, for the purpose of exercising any remedies under any Lease
					 Document relating to such Aircraft or otherwise, (D) except if the State of
					 Registration is the United States, payments of rent under the Lease are not
					 subject to withholding under the applicable laws of such jurisdiction or, if
					 subject to withholding, the gross up provisions of such Lease will be
					 enforceable, (E) the interest of such Genesis Funding Entity in such BI
					 Aircraft has been properly registered in the relevant State of Registration (to
					 the extent applicable), (F) the Security Trust Agreement, to the extent
					 required, has been or is in the process of being duly recorded in any relevant
					 registry and, if such opinion is reasonably practicable to obtain, that the
					 lien created thereunder will be recognized as constituting a first priority
					 perfected security interest in and to the related Leases in favor of the
					 Security Trustee, (G) if provided for by the Cape Town Convention, if as of
					 such BI Transfer Date the International Registry reflects the registration of
					 the transfer of such BI Aircraft and related Engines to such Genesis Funding
					 Entity, then the International Registry does not reflect the registration of
					 any subsequent transfer of such BI Aircraft or any related Engine or the
					 registration of any other International Interest in such BI Aircraft or any
					 related Engine (other than those in respect of Permitted Encumbrances), which
					 opinion shall be supported in each case by a Priority Search Certificate and
					 (H) if the relevant jurisdiction of the Lessee or the relevant State of
					 Registration has ratified the Cape Town Convention, but not otherwise, the
					 International Registry does not reflect the registration of any International
					 Interest in such BI Aircraft or any related Engine other than (w) the
					 registration in the name of the Security Trustee of the International Interest
					 provided for under the Security Trust 
 

 

		
		   

		  
			 31
		  

		  

		  
  

		
		   
Agreement,
		  (x) the registration in the name of such Genesis Funding Entity of the
		  International Interest provided for under the relevant Lease, Assigned Lease or
		  Novated Lease (y) the registration of the assignment of such International
		  Interest in favor of the Security Trustee (it being understood that such
		  registrations shall not be conditions precedent to the transfer of such
		  Beneficial Interest) and (z) other Permitted Encumbrances, which opinion shall
		  be supported in each case by a Priority Search Certificate;

		 

		
		  	 	
				  (vi)

				  	
				  evidence
					 that all governmental and other licenses, approvals, consents, certificates,
					 exemptions, registrations and filings necessary in the jurisdiction of
					 incorporation or organization of GECC, any Seller of a BI Aircraft or such
					 Genesis Funding Entity and any other relevant jurisdiction (including the
					 domicile of the Lessee) and the relevant State of Registration of such BI
					 Aircraft for any matter or thing contemplated by this Agreement and the other
					 applicable Operative Documents for such BI Aircraft, the bank accounts provided
					 for under the Cash Management Agreement, the Servicing Agreement, the Security
					 Trust Agreement and the Indenture and any notices or other documents to be
					 given pursuant hereto or thereto and for the legality, validity,
					 enforceability, admissibility in evidence and effectiveness hereof and thereof
					 (including, to the extent reasonably practicable in such jurisdiction, the
					 establishment of a first priority perfected security interest in and to the
					 related Leases in favor of the Security Trustee) have been obtained or effected
					 on an unconditional basis and remain in full force and effect (or in the case
					 of effecting any certificates, exemptions, registrations and filings, that
					 arrangements satisfactory to Genesis Funding have been made for the
					 effectiveness of the same within any time limit provided therefor under
					 applicable law and a Rating Agency Confirmation and the prior written consent
					 of the Policy Provider have been received with respect thereto); 

				  

 

		 

		
		  	 	
				  (vii)

				  	
				  a draft
					 of the certificate required to be delivered pursuant to Section 5.5 shall have
					 been provided at least three Business Days but not more than five Business Days
					 prior to such BI Transfer Date;
 

 

		 

		
		  	 	
				  (viii)

				  	
				  a
					 certificate of GECC or the applicable Seller confirming that so far as is known
					 to it, no Event of Loss has occurred and no unrepaired Material Damage is in
					 existence with respect to such BI Aircraft; 
 

 

		 

		
		  	 	
				  (ix)

				  	
				  each of
					 the documents required to be delivered on or prior thereto pursuant to Section
					 5; 
 

 

		 

		
		  	 	
				  (x)

				  	
				  a copy
					 of the currently valid certificate of airworthiness for such Aircraft issued by
					 the appropriate Air Authority or other reasonably satisfactory evidence
					 thereof; 
 

 

		
		   

		  
			 32
		  

		  

		  
  

		 

		
		  	 	
				  (xi)

				  	
				  for such
					 BI Aircraft, originals, or certified copies, of certificates evidencing the
					 insurance required to be maintained pursuant to the relevant Assigned Lease or
					 the Novated Lease, as appropriate, for such Aircraft together, if applicable,
					 with a letter or report from an independent firm of insurance brokers; and
					 
 

 

		 

		
		  	 	
				  (xii)

				  	
				  the
					 report of Genesis Funding’s and/or such Purchaser’s insurance advisor
					 in substantially the Agreed Form;
 

 

		 

		
		  	 	
				  (h)

				  	
				  the
					 matters disclosed in the First Disclosure Letter, if any, and any Supplemental
					 Disclosure Letter delivered on or prior to such BI Transfer Date shall be in
					 substance satisfactory to Genesis Funding and the Policy Provider;
					 
 

 

		 

		
		  	 	
				  (i)

				  	
				  subject
					 to Section 7.4(b), on such BI Transfer Date, if the Security Deposit held under
					 the Lease for any such BI Aircraft is in the form of a letter of credit,
					 guarantee, promissory note or other instrument, and not already issued in the
					 name of GECAS as servicer or manager, GECC shall cause such letter of credit,
					 guarantee or other instrument to be duly endorsed, amended or reissued in favor
					 of such Genesis Funding Entity (or the relevant Affiliate of such Genesis
					 Funding Entity) and GECC shall have taken such other actions as may be
					 necessary to effectuate the assignment of all right, title and interest of the
					 Existing Lessor in and to such letter of credit, guarantee, promissory note or
					 instrument to such Genesis Funding Entity;
 

 

		 

		
		  	 	
				  (j)

				  	
				  GECC
					 shall have provided to Genesis Funding a confirmation from GECAS that such BI
					 Aircraft has, as of the AP Closing Date, become an “Aircraft Asset”
					 under and as defined in the Servicing Agreement;
 

 

		 

		
		  	 	
				  (k)

				  	
				  the
					 tangible chattel paper original of the Lease (or if an original was never so
					 designated or such original has been lost, a certificate from GECC to such
					 effect) and the Assignment of Lease or Lease Novation, as applicable, for such
					 BI Aircraft shall have been delivered to the Security Trustee on such BI
					 Transfer Date;
 

 

		 

		
		  	 	
				  (l)

				  	
				  for such
					 BI Aircraft, (A) an original of the applicable Lease (together with the related
					 Lease Assignment Documents) and (B) an original of each other Lease Document
					 (or otherwise a copy certified to be true and correct) shall be delivered to
					 the Security Trustee on or prior to the AP Closing Date (except that with
					 respect to Substitute Aircraft, such originals shall be delivered on the
					 Delivery Date therefor); provided that, if any such Lease Document contains a
					 material right for the benefit of the lessor thereunder and the Genesis Funding
					 Entity and/or the Seller thereof does not have an original of such Lease
					 Document in its possession, GECC and each such Seller shall provide such other
					 assurances as to the enforceability and admissibility of such Lease Document in
					 any court in the State of New York as Genesis Funding may reasonably request;
					 
 

 

		
		   

		  
			 33
		  

		  

		  
  

		 

		
		  	 	
				  (m)

				  	
				  the
					 Formation Agreement for such Genesis Funding Entity shall be in form and
					 substance satisfactory to Genesis Funding and the Policy Provider;

				  

 

		 

		
		  	 	
				  (n)

				  	
				  Genesis
					 Funding shall have received a certificate of good standing for each Genesis
					 Funding Entity which is the subject of a Transfer, provided such certificate is
					 provided by such Genesis Funding Entity’s jurisdiction of organization for
					 entities of the same type as such Genesis Funding Entity;
 

 

		 

		
		  	 	
				  (o)

				  	
				  there
					 shall not be in effect on the BI Transfer Date any Order restraining, enjoining
					 or otherwise prohibiting or making illegal the consummation of any of the
					 transactions contemplated by this Agreement, the other applicable Operative
					 Agreements, the Servicing Agreement, the Security Trust Agreement and the
					 Indenture, or which could reasonably be expected to otherwise result in a
					 material diminution of the benefits of the transactions contemplated by this
					 Agreement, the other applicable Operative Agreements, the Servicing Agreement,
					 the Security Trust Agreement and the Indenture to Purchaser, and there shall
					 not be pending or threatened on the BI Transfer Date any action or proceeding
					 in, before or by any governmental or regulatory authority which could
					 reasonably be expected to result in the issuance of any such Order;
					 and
 

 

		 

		
		  	 	
				  (p)

				  	
				  if such
					 BI Transfer Date is in respect of either Aircraft No. ___(MSN 23022) or
					 Aircraft No. __ (MSN 23140) (both leased as of the date hereof to ABX Air,
					 Inc.), the Seller thereof shall have paid or be in the process of paying the
					 Cargo Door Rent Balance in respect of such Aircraft (and, for purposes of
					 clarification, (i) the applicable Seller shall be liable to make the payment to
					 the Lessee in respect thereof under the Leases for such Aircraft to the extent
					 of the Cargo Door Rent Balance until the BI Transfer Date, (ii) from the AP
					 Closing Date to the Delivery Date, the Purchaser shall be liable to make the
					 payments to the Lessee in respect thereof under the Leases to the extent of the
					 “cargo door” rent received under the Lease for such period and (iii)
					 thereafter, the Purchaser shall be liable to make all of the payments to the
					 Lessee in respect thereof under the Leases for such Aircraft).

				  

 

		 

		
		  	
				  7.2

				  	
				  The
					 obligation of any Purchaser to purchase any Independent Aircraft on any
					 Delivery Date hereunder is subject to satisfaction of the following express
					 conditions precedent on the Delivery Date for such Independent Aircraft,
					 subject to the right of the relevant Purchaser to waive any condition pursuant
					 to Section 7.4(a):
 

 

		 

		
		  	 	
				  (a)

				  	
				  Except
					 in respect of transfers on the AP Closing Date, Genesis Funding shall have
					 received notice of the expected Delivery Date at least four Business Days prior
					 thereto;
 

 

		 

		
		  	 	
				  (b)

				  	
				  Genesis
					 Funding shall have received (i) the documents referred to in Exhibit E-2 in
					 connection with the Delivery of such Independent Aircraft (other than as listed
					 on Schedule 4) and (ii) a certificate from a duly authorized officer of GECC
					 dated such Delivery Date stating that (A) the conditions set forth in Exhibit
					 E-2 with 
 

 

		
		   

		  
			 34
		  

		  

		  
  

		 

		respect
		  to the Delivery of such Independent Aircraft have been satisfied or otherwise
		  disclosed in the First Disclosure Letter and such documents are unchanged and
		  are in full force and effect as of such Delivery Date (except for amendments
		  and terminations permitted under the Servicing Agreement), (B) the
		  representations and warranties of the Seller (or its Affiliate) of such
		  Independent Aircraft contained in the Assignment of Lease or Lease Novation, as
		  applicable, for such Independent Aircraft are true and correct as of such
		  Delivery Date, and (C) except in the case of Skymark Aircraft, the bill of sale
		  for, or physical delivery of (as acknowledged in the acknowledgement of
		  delivery pertaining thereto), as applicable, such Independent Aircraft is
		  effective to convey irrevocably full legal and, subject to any Formation
		  Agreement, beneficial title to the Purchaser thereof on such Delivery
		  Date;

		 

		
		  	 	
				  (c)

				  	
				  no
					 Material Default shall have occurred and be continuing as of the AP Closing
					 Date with respect to such Independent Aircraft;
 

 

		 

		
		  	 	
				  (d)

				  	
				  Genesis
					 Funding shall have received payment of all amounts due by the Seller thereof or
					 GECC in respect of such Independent Aircraft;
 

 

		 

		
		  	 	
				  (e)

				  	
				  Genesis
					 Funding shall have received a certification from the Seller dated such Delivery
					 Date to the effect that the representations and warranties of such Seller
					 hereunder are true and correct as of the AP Closing Date or such Delivery Date,
					 as the case may be;
 

 

		 

		
		  	 	
				  (f)

				  	
				  unless
					 and to the extent Genesis Funding shall otherwise agree, or a Rating Agency
					 Confirmation and the prior written consent of the Policy Provider shall have
					 been obtained with respect thereto, all the conditions precedent to the
					 effectiveness of the Assignment of Lease or Lease Novation, as applicable, for
					 such Independent Aircraft shall have been satisfied and Genesis Funding shall
					 have received a certification from the Seller and GECC to such
					 effect;
 

 

		 

		
		  	 	
				  (g)

				  	
				  receipt
					 of the following documents by Genesis Funding:
 

 

		 

		
		  	 	
				  (i)

				  	
				  to the
					 extent applicable, an opinion dated as of such Delivery Date in the Agreed Form
					 from independent counsel to the Seller in the Delivery Location, covering,
					 without limitation, that, except if the Delivery Location is in the United
					 States or international airspace, the transfer of title to such Independent
					 Aircraft will be effective under the laws of such jurisdiction and the Delivery
					 of such Independent Aircraft will not result in the imposition of any Tax in
					 such jurisdiction on Genesis Funding, any Subsidiary of Genesis Funding, such
					 Independent Aircraft, the related Lease or otherwise in respect of such
					 Transfer;
 

 

		 

		
		  	 	
				  (ii)

				  	
				  for such
					 Independent Aircraft, an opinion dated as of such Delivery Date in the Agreed
					 Form from counsel to the relevant Seller in the relevant State of Registration
					 or, if applicable, the relevant jurisdiction of the Lessee to the effect that
					 (A) except if the State of Registration is the
 

 

		
		   

		  
			 35
		  

		  

		  
  

		 

		United
		  States, the terms of the relevant Lease or Novated Lease or Assigned Lease and
		  the relevant Operative Documents and the other Lease Documents are legal,
		  valid, binding and enforceable under the laws of such country to the extent
		  necessary to enable the Purchaser to receive the practical benefits of its
		  rights thereunder, (B) following the Delivery of such Independent Aircraft, the
		  Purchaser shall be the owner of record of such Independent Aircraft in the
		  registry or otherwise shall be recognized as the legal owner of such
		  Independent Aircraft under the applicable laws of such jurisdiction, (C) except
		  if the State of Registration is the United States, it is not necessary for such
		  Purchaser as a result of its ownership of such Independent Aircraft to qualify
		  to do business in such jurisdiction as a result of its ownership of such
		  Independent Aircraft and it is not necessary for such Purchaser to qualify to
		  do business in such jurisdiction, for the purpose of exercising any remedies
		  under any Lease Document relating to such Independent Aircraft or otherwise,
		  (D) except if the State of Registration is the United States, payments of rent
		  under the Lease are not subject to withholding under the applicable laws of
		  such jurisdiction or, if subject to withholding, the gross up provisions of
		  such Lease will be enforceable, (E) the interest of such Purchaser in such
		  Independent Aircraft has been properly registered in the relevant State of
		  Registration (to the extent applicable), (F) the Security Trust Agreement, to
		  the extent required, has been or is in the process of being duly recorded in
		  any relevant registry and, if such opinion is reasonably practicable to obtain,
		  that the lien created thereunder will be recognized as constituting a first
		  priority perfected security interest in and to the related Leases in favor of
		  the Security Trustee and (G) if provided for by the Cape Town Convention, if as
		  of such Delivery Date the International Registry reflects the registration of
		  the transfer of such Independent Aircraft and related Engines to such
		  Purchaser, then the International Registry does not reflect the registration of
		  any subsequent transfer of such Independent Aircraft or any related Engine or
		  the registration of any other International Interest in such Independent
		  Aircraft or any related Engine (other than those in respect of Permitted
		  Encumbrances), which opinion shall be supported in each case by a Priority
		  Search Certificate and (H) if the relevant jurisdiction of the Lessee or the
		  relevant State of Registration has ratified the Cape Town Convention, but not
		  otherwise, the International Registry does not reflect the registration of any
		  International Interest in such Independent Aircraft or any related Engine other
		  than (w) the registration in the name of the Security Trustee of the
		  International Interest provided for under the Security Trust Agreement, (x) the
		  registration in the name of such Purchaser of the International Interest
		  provided for under the relevant Lease, Assigned Lease or Novated Lease (y) the
		  registration of the assignment of such International Interest in favor of the
		  Security Trustee (it being understood that such registrations shall not be
		  conditions precedent to the Delivery of such Aircraft) and (z) other Permitted
		  

		
		   

		  
			 36
		  

		  

		  
  

		 

		Encumbrances,
		  which opinion shall be supported in each case by a Priority Search
		  Certificate;

		 

		
		  	 	
				  (iii)

				  	
				  evidence
					 that all governmental and other licenses, approvals, consents, certificates,
					 exemptions, registrations and filings necessary in the jurisdiction of
					 incorporation or organization of GECC, the Seller of such Independent Aircraft
					 or such Purchaser and any other relevant jurisdiction (including the domicile
					 of the Lessee) and the relevant State of Registration of such Aircraft for any
					 matter or thing contemplated by this Agreement and the other applicable
					 Operative Documents for such Independent Aircraft, the bank accounts provided
					 for under the Cash Management Agreement, the Servicing Agreement, the Security
					 Trust Agreement and the Indenture and any notices or other documents to be
					 given pursuant hereto or thereto and for the legality, validity,
					 enforceability, admissibility in evidence and effectiveness hereof and thereof
					 (including, to the extent reasonably practicable in such jurisdiction, the
					 establishment of a first priority perfected security interest in and to the
					 related Leases in favor of the Security Trustee) have been obtained or effected
					 on an unconditional basis and remain in full force and effect (or in the case
					 of effecting any certificates, exemptions, registrations and filings, that
					 arrangements satisfactory to Genesis Funding have been made for the
					 effectiveness of the same within any time limit provided therefor under
					 applicable law and a Rating Agency Confirmation and the prior written consent
					 of the Policy Provider have been received with respect thereto); 

				  

 

		 

		
		  	 	
				  (iv)

				  	
				  a
					 certificate of GECC or the applicable Seller confirming that so far as is known
					 to it, no Event of Loss has occurred and no unrepaired Material Damage is in
					 existence with respect to such Independent Aircraft; 
 

 

		 

		
		  	 	
				  (v)

				  	
				  each of
					 the documents required to be delivered on or prior thereto pursuant to Section
					 5; 
 

 

		 

		
		  	 	
				  (vi)

				  	
				  a copy
					 of the currently valid certificate of airworthiness for such Aircraft issued by
					 the appropriate Air Authority or other reasonably satisfactory evidence
					 thereof; 
 

 

		 

		
		  	 	
				  (vii)

				  	
				  for such
					 Independent Aircraft, originals, or certified copies, of certificates
					 evidencing the insurance required to be maintained pursuant to the relevant
					 Assigned Lease or the Novated Lease, as appropriate, for such Independent
					 Aircraft together, if applicable, with a letter or report from an independent
					 firm of insurance brokers; and 
 

 

		 

		
		  	 	
				  (viii)

				  	
				  the
					 report of Genesis Funding’s and/or such Purchaser’s insurance advisor
					 in substantially the Agreed Form;
 

 

		
		   

		  
			 37
		  

		  

		  
  

		 

		
		  	 	
				  (h)

				  	
				  the
					 matters disclosed in the First Disclosure Letter, if any, and any Supplemental
					 Disclosure Letter delivered on or prior to such Delivery Date shall be in
					 substance satisfactory to Genesis Funding and the Policy Provider;
					 
 

 

		 

		
		  	 	
				  (i)

				  	
				  subject
					 to Section 7.4(b), on such Delivery Date, if the Security Deposit held under
					 the Lease for such Independent Aircraft is in the form of a letter of credit,
					 guarantee, promissory note or other instrument, and not already issued in the
					 name of GECAS as servicer or manager, GECC shall cause such letter of credit,
					 guarantee or other instrument to be duly endorsed, amended or reissued in favor
					 of such Purchaser and GECC shall have taken such other actions as may be
					 necessary to effectuate the assignment of all right, title and interest of the
					 Existing Lessor in and to such letter of credit, guarantee, promissory note or
					 instrument to such Purchaser;
 

 

		 

		
		  	 	
				  (j)

				  	
				  GECC
					 shall have provided to Genesis Funding a confirmation from GECAS that such
					 Independent Aircraft has, as of the AP Closing Date, become an “Aircraft
					 Asset” under and as defined in the Servicing Agreement;
 

 

		 

		
		  	 	
				  (k)

				  	
				  the
					 tangible chattel paper original of the Lease (or if an original was never so
					 designated or such original has been lost, a certificate from GECC to such
					 effect) and the Assignment of Lease or Lease Novation, as applicable, for such
					 Independent Aircraft shall have been delivered to the Security Trustee on such
					 Delivery Date;
 

 

		 

		
		  	 	
				  (l)

				  	
				  for such
					 Independent Aircraft, (A) an original of the applicable Lease (together with
					 the related Lease Assignment Documents) and (B) an original of each other Lease
					 Document (or otherwise a copy certified to be true and correct) shall be
					 delivered to the Security Trustee on or prior to the AP Closing Date (except
					 that with respect to Substitute Aircraft, such originals shall be delivered on
					 the Delivery Date therefor); provided that, if any such Lease Document contains
					 a material right for the benefit of the lessor thereunder and the Genesis
					 Funding Entity and/or the Seller thereof does not have an original of such
					 Lease Document in its possession, GECC and each such Seller shall provide such
					 other assurances as to the enforceability and admissibility of such Lease
					 Document in any court in the State of New York as Genesis Funding may
					 reasonably request; 
 

 

		 

		
		  	 	
				  (m)

				  	
				  there
					 shall not be in effect on the Delivery Date any Order restraining, enjoining or
					 otherwise prohibiting or making illegal the consummation of any of the
					 transactions contemplated by this Agreement, the other applicable Operative
					 Agreements, the Servicing Agreement, the Security Trust Agreement and the
					 Indenture, or which could reasonably be expected to otherwise result in a
					 material diminution of the benefits of the transactions contemplated by this
					 Agreement, the other applicable Operative Agreements, the Servicing Agreement,
					 the Security Trust Agreement and the Indenture to Purchaser, and there shall
					 not be pending or threatened on the Delivery Date any action or proceeding in,
					 before or by any governmental or regulatory authority which could reasonably be
					 expected to result in the issuance of any such Order; and
 

 

		
		   

		  
			 38
		  

		  

		  
  

		 

		
		  	 	
				  (n)

				  	
				  if such
					 Delivery Date is in respect of either Aircraft No. ___ (MSN 23022) or Aircraft
					 No. __ (MSN 23140) (both leased as of the date hereof to ABX Air, Inc.), the
					 Seller thereof shall have paid or be in the process of paying the Cargo Door
					 Rent Balance in respect of such Aircraft (and, for purposes of clarification,
					 (i) the applicable Seller shall be liable to make the payment to the Lessee in
					 respect thereof under the Leases for such Aircraft to the extent of the Cargo
					 Door Rent Balance until the Delivery Date thereof, (ii) from the AP Closing
					 Date to the Delivery Date, the Purchaser shall be liable to make the payments
					 to the Lessee in respect thereof under the Leases to the extent of the
					 “cargo door” rent received under the Lease for such period, and (iii)
					 thereafter, the Purchaser shall be liable to make all of the payments to the
					 Lessee in respect thereof under the Leases for such Aircraft).

				  

 

		 

		
		  	
				  7.3

				  	
				  In
					 addition to the conditions precedent listed in Section 7.1, the obligation of
					 Genesis Funding to purchase the Skymark Beneficial Owner on the related BI
					 Transfer Date or Independent Aircraft Delivery Date is subject to satisfaction
					 of the following express conditions precedent on such BI Transfer Date or
					 Independent Aircraft Delivery Date, subject to the right of Genesis Funding to
					 waive any condition pursuant to Section 7.4:
 

 

		 

		
		  	 	
				  (a)

				  	
				  Genesis
					 Funding shall have received:
 

 

		 

		
		  	 	
				  (i)

				  	
				  a fully
					 executed copy of the SC Air Conditional Sale Agreement;
 

 

		 

		
		  	 	
				  (ii)

				  	
				  a fully
					 executed copy of the Skymark Head Lease;
 

 

		 

		
		  	 	
				  (iii)

				  	
				  a fully
					 executed copy of the Skymark Lease;
 

 

		 

		
		  	 	
				  (iv)

				  	
				  a fully
					 executed copy of the SC Air Aircraft Mortgage;
 

 

		 

		
		  	 	
				  (v)

				  	
				  a fully
					 executed copy of the Skymark Participation Agreement;
 

 

		 

		
		  	 	
				  (vi)

				  	
				  a fully
					 executed copy of the Sumitomo Share Pledge Agreement; and
 

 

		 

		
		  	 	
				  (vii)

				  	
				  one or
					 more legal opinions reasonably satisfactory to the Purchaser from counsel
					 reasonably acceptable to the Purchaser in Japan and any other relevant
					 jurisdiction regarding (A) the
					 enforceability of each of the SC Air Mortgage, the SC Air Conditional Sale
					 Agreement and the Sumitomo Share Pledge Agreement , (B) the effect of SC Air
					 being subject to a bankruptcy or insolvency proceeding under applicable
					 Japanese law (whether arising as a result of a consolidation of the assets of
					 SC Air and Sumitomo following a Sumitomo bankruptcy or insolvency proceeding or
					 otherwise), recognizing that the SC Air Mortgage will not have been
					 registered, and
					 (C)
					 termination of the Skymark Lease (if the conditions precedent thereto have been
					 fulfilled). 
 

 

		 

		
		  	
				  7.4

				  	
				  (a)

				  	
				  Any
					 Purchaser of an Asset or Aircraft, as the case may be, may, at the request of
					 the Seller thereof, in its absolute discretion agree to waive satisfaction of
					 one or 
 

 

		
		   

		  
			 39
		  

		  

		  
  

		 

		more
		  conditions precedent set out in this Section 7 (and in the event of any such
		  waiver such Purchaser may impose such conditions as are reasonably acceptable
		  to the BI Seller to such waiver as it reasonably thinks fit), provided, that
		  (i) such waiver is disclosed in reasonable detail in the First Disclosure
		  Letter, or (ii) such waiver is disclosed in reasonable detail in the
		  Supplemental Disclosure Letter with respect to such Aircraft and a Rating
		  Agency Confirmation and the prior written consent of the Policy Provider have
		  been obtained with respect thereto on or prior to the Delivery Date for, or BI
		  Transfer Date in respect of, such Aircraft; and

		 

		
		  	 	
				  (b)

				  	
				  In the
					 event that any letter of credit or guarantee to be issued on behalf of the
					 relevant Lessee pursuant to the relevant Operative Documents has not been
					 delivered (and letters of credit initially issued under the applicable Lease in
					 the name of GECAS as manager or servicer shall be deemed so delivered for
					 purposes hereof), the Seller of the Aircraft, or the Beneficial Interest in the
					 Genesis Funding Entity directly or indirectly holding title to such Aircraft,
					 in respect of such Lease may at such Seller’s own election:

				  

 

		 

		
		  	 	
				  (i)

				  	
				  subject
					 to a Rating Agency Confirmation and the prior written consent of the Policy
					 Provider (but only if the aggregate amount of such substitute letters of
					 credit, guarantees or cash, when added together with the substitute letters of
					 credit or guarantees provided under clause (ii) below or held as provided under
					 clause (iii) below exceeds $5,000,000), deliver a letter of credit from GECC or
					 other issuer in lieu (and until delivery) of any letter of credit or guarantee
					 to be issued on behalf of the relevant Lessee pursuant to the Operative
					 Documents, so long as the issuer thereof is rated at least the same as the
					 issuer (or, if higher, any confirming bank) of the undelivered letter of credit
					 or guarantee, or deliver cash to the Trustee (to be held in the Security
					 Deposit Account) in lieu (and until delivery) of such letter of credit or
					 guarantee, such letter of credit to be on substantially the same terms as the
					 undelivered letter of credit or guarantee;
 

 

		 

		
		  	 	
				  (ii)

				  	
				  subject
					 to a Rating Agency Confirmation and the prior written consent of the Policy
					 Provider (but only if the aggregate amount of such substitute letters of credit
					 or guarantees, when added together with the substitute letters of credit,
					 guarantees or cash provided under clause (i) above or held as provided under
					 clause (iii) below exceeds $5,000,000), have the relevant Lessee deliver to the
					 Purchaser thereof (or the relevant Affiliate of such Purchaser) acting as
					 lessor under an Assigned Lease or Novated Lease therefor a letter of credit or
					 guarantee or cash (in Dollars) to the Trustee (to be held in the Security
					 Deposit Account) in lieu of and in the amount of any letter of credit or
					 guarantee set out in Schedule 3 or the Substitute Aircraft Supplement, as
					 applicable, in each case so long as such letter of credit or guarantee is on
					 substantially the same terms as the undelivered letter of credit or guarantee;
					 or
 

 

		
		   

		  
			 40
		  

		  

		  
  

		 

		
		  	 	
				  (iii)

				  	
				  subject
					 to a Rating Agency Confirmation and the prior written consent of the Policy
					 Provider (but only if the aggregate amount of such letters of credit and
					 guarantees so held, when added together with the substitute letters of credit,
					 guarantees or cash of GECC provided under clauses (i) and (ii) above, exceeds
					 $5,000,000), the Seller of such Aircraft or Beneficial Interest shall have
					 agreed (and GECC shall have confirmed its guarantee of such obligation of such
					 Seller) to hold such letter of credit or guarantee for the sole benefit of the
					 Purchaser and act on its instructions (provided that the Seller must provide
					 the substitute letter of credit or guarantee as required within 90 days after
					 the applicable Delivery Date).
 

 

		 

		
		  	
				  7.5

				  	
				  Each
					 Seller of the relevant Aircraft or Asset hereby agrees to use its reasonable
					 commercial efforts to satisfy each of the conditions, if any, set forth in
					 Schedule 4 with respect to the Delivery or Transfer of such Aircraft or Asset
					 within the period therein specified therefor.
 

 

		 

		
		  	
				  8.

				  	
				  REPRESENTATIONS
					 AND WARRANTIES OF GECC AND EACH OTHER SELLER
 

 

		 

		
		  	
				  8.1

				  	
				  Each of
					 GECC and each other Seller (in respect of itself only in the case of each
					 Seller other than GECC) represents and warrants to each Purchaser as of the
					 date of this Agreement, each BI Transfer Date and on each Delivery Date of an
					 Independent Aircraft as follows:
 

 

		 

		
		  	 	
				  (a)

				  	
				  each of
					 GECC and each other Seller is a company or trust duly established and validly
					 existing under the laws of its jurisdiction of formation and has the corporate
					 or other power to own its assets and carry on its business as it is
					 contemplated herein;
 

 

		 

		
		  	 	
				  (b)

				  	
				  each of
					 GECC and each other Seller has the corporate power to enter into and perform,
					 and has taken all necessary corporate or other action to authorize the entry
					 into, performance and delivery of, this Agreement and each other Operative
					 Document to which it is a party;
 

 

		 

		
		  	 	
				  (c)

				  	
				  the
					 relevant Operative Documents to which GECC and each other Seller is a party
					 have been, or when executed and delivered will have been, duly entered into by
					 GECC and each other Seller party thereto and delivered by GECC and each other
					 Seller party thereto and constitute or, in the case of any Operative Document
					 to be executed on or about the applicable Delivery Date, will constitute on
					 such Delivery Date, the legal, valid and binding obligation of GECC and each
					 other Seller party thereto, enforceable in accordance with their terms (subject
					 to customary qualifications in any relevant legal opinion);
 

 

		 

		
		  	 	
				  (d)

				  	
				  the
					 entry into and performance by GECC and each other Seller of, and the
					 transactions contemplated by, the relevant Operative Documents to which it is a
					 party do not and will not:
 

 

		
		   

		  
			 41
		  

		  

		  
  

		 

		
		  	 	
				  (i)

				  	
				  breach
					 any laws binding on GECC or any other Seller or any of their respective assets
					 to be transferred to the relevant Purchaser hereunder; or
 

 

		 

		
		  	 	
				  (ii)

				  	
				  result
					 in any breach of, or constitute a default under the constitutional documents of
					 GECC or any other Seller; or
 

 

		 

		
		  	 	
				  (iii)

				  	
				  result
					 in any breach of, or constitute a default under any agreement, instrument or
					 other document which is binding upon GECC or any other Seller or any of their
					 respective assets nor result in the creation of any Encumbrance (other than the
					 Novated Lease or the Assigned Lease as the case may be) over any of their
					 respective assets to be transferred to the relevant Purchaser
					 hereunder;
 

 

		 

		
		  	 	
				  (e)

				  	
				  the
					 provisions of Section 14 concerning applicable law, service of process and
					 jurisdiction are valid and binding on GECC and each other Seller under the laws
					 of its jurisdiction of organization, and no provision purporting to be binding
					 on GECC or any other Seller of this Agreement or any of the other applicable
					 Operative Documents is prohibited, unlawful or unenforceable under the laws of
					 its state of incorporation;
 

 

		 

		
		  	 	
				  (f)

				  	
				  no
					 liquidator, provisional liquidator or analogous or similar officer has been
					 appointed in respect of all or any material part of the assets of GECC (or, to
					 its knowledge, any non-material part of the assets of GECC which would, if it
					 were subject to a liquidator, provisional liquidator or analogous or similar
					 officer, have a material adverse effect on GECC’s financial condition or
					 its ability to perform its obligations hereunder or under the Guaranty) or all
					 or any part of the assets of any other Seller nor has any application been made
					 to a court which is still pending for an order for, or any act, matter or thing
					 been done which with the giving of notice, lapse of time or satisfaction of
					 some other condition (or any combination thereof) will lead to, the appointment
					 of any such officers or equivalent in any jurisdiction; and it is not entering
					 into this Agreement with the intent to hinder, defraud or delay any
					 creditor;
 

 

		 

		
		  	 	
				  (g)

				  	
				  except
					 if and as advised by GECC to the relevant Purchaser in a Disclosure Letter, no
					 litigation, arbitration or claim before any court, arbitrator, governmental or
					 administrative agency or authority which would have a material adverse effect
					 on the ability of GECC or any other Seller to observe or perform their
					 respective obligations under this Agreement or any other applicable Operative
					 Documents to which GECC or such Seller is a party is in progress, or to the
					 knowledge of GECC, threatened against GECC or any other Seller; 

				  

 

		 

		
		  	 	
				  (h)

				  	
				  if
					 applicable, its jurisdiction of incorporation or organization is as specified
					 on Schedule 5; and
 

 

		 

		
		  	 	
				  (i)

				  	
				  to
					 GECC’s knowledge, the Appraisals of the Appraisers delivered to the
					 Purchaser on the AP Closing Date were true and complete copies
					 thereof.
 

 

		
		   

		  
			 42
		  

		  

		  
  

		 

		
		  	
				  8.2

				  	
				  Each of
					 GECC and each other Seller (in respect of itself only in the case of each
					 Seller other than GECC) of an Aircraft further represents and warrants on the
					 Delivery Date with respect to each Independent Aircraft as
					 follows:
 

 

		 

		
		  	 	
				  (a)

				  	
				  except
					 if and as advised by GECC to the Purchaser thereof in a Disclosure Letter, so
					 far as concerns the obligations of GECC and any such Seller (and except for the
					 registration of particulars of the relevant Lease Novation or Assignment of
					 Lease with the appropriate Air Authority or other actions referred to therein
					 or herein, if applicable) all authorizations, consents, registrations and
					 notifications required in connection with the entry into, performance, validity
					 and enforceability of, this Agreement, the transactions contemplated by this
					 Agreement and the other applicable Operative Documents to which it is a party,
					 have been (or will on or before the Delivery Date of such Aircraft have been)
					 obtained or effected (as appropriate) and are (or will on their being obtained
					 or effected be) in full force and effect;
 

 

		 

		
		  	 	
				  (b)

				  	
				  except
					 if and as advised by GECC to the Purchaser thereof in a Disclosure Letter, the
					 Lease Documents listed in Schedule 2 or the Substitute Aircraft Supplement, as
					 applicable, constitute the whole agreement between the relevant lessor and the
					 relevant Lessee as of Delivery (and pertaining to the period on and after
					 Delivery) relating to such Aircraft and includes a complete list (other than
					 the Operative Documents) of all amendments, supplements, novations, and written
					 consents, approvals and waivers relevant to the Lease with respect to the
					 period on and after Delivery, and there are no oral waivers in effect that
					 would modify or amend the terms thereof in any material respect with respect to
					 the period on and after Delivery;
 

 

		 

		
		  	 	
				  (c)

				  	
				  except
					 if and as advised by GECC to the Purchaser thereof in the First Disclosure
					 Letter, to GECC’s or the applicable Seller’s knowledge no Material
					 Default has occurred and is continuing under the relevant Lease on and as of
					 the AP Closing Date;
 

 

		 

		
		  	 	
				  (d)

				  	
				  except
					 if and as advised by GECC to the Purchaser thereof in the First Disclosure
					 Letter, there are no outstanding claims which have been asserted by the Lessee
					 against GECC or any other Seller arising out of the relevant Lease (other than
					 claims constituting Permitted Encumbrances and other than claims for
					 maintenance contribution payments that will be the responsibility of the Seller
					 or for other payments that will be the responsibility of the Seller) on and as
					 of the AP Closing Date;
 

 

		 

		
		  	 	
				  (e)

				  	
				  except
					 in the case of the Skymark Aircraft, the applicable Seller has, or at Delivery
					 will have, full legal and, subject to a Formation Agreement, beneficial title
					 to such Aircraft, free from Encumbrances other than Permitted Encumbrances and
					 the Bill of Sale or physical delivery (as acknowledged in the Acknowledgement
					 of Delivery pertaining thereto), as applicable, is effective to convey
					 irrevocably title to the Purchaser thereof and the transfer of such Aircraft is
					 not avoidable or otherwise subject to rescission by reason of any lawful claim
					 
 

 

		
		   

		  
			 43
		  

		  

		  
  

		
		   

		  of any
			 other Person by or through such Seller (including any prior transferor thereof
			 or any Person acting on behalf of or claiming through any such transferor)
			 (other than a Permitted Encumbrance);
 

		 

		
		  	 	
				  (f)

				  	
				  to
					 GECC’s or the applicable Seller’s knowledge, and except if and as
					 advised by GECC or such Seller to the Purchaser thereof in the First Disclosure
					 Letter, there are no Lessee Encumbrances on and as of the AP Closing Date which
					 are not permitted pursuant to the terms of the relevant Lease
					 Document;
 

 

		 

		
		  	 	
				  (g)

				  	
				  (i) to
					 GECC’s or the applicable Seller’s knowledge, such Aircraft has not,
					 except if and as advised by GECC or such Seller to the Purchaser thereof in the
					 First Disclosure Letter, been involved in any incident on or before the AP
					 Closing Date which caused damage in excess of the amount required to be
					 disclosed to the relevant lessor under the relevant Lease, and (ii) the
					 summary technical information provided by GECC and its representatives to the
					 Appraisers with respect to such Aircraft and on which the Appraisers relied in
					 making their Appraisals is true and correct in all material respects and there
					 are no facts or circumstances known to the applicable Seller or GECC as of the
					 AP Closing Date which would render any of the technical specifications with
					 respect to such Aircraft assumptions contained in the Appraisals for such
					 Aircraft to be materially inaccurate (and for the avoidance of doubt, neither
					 GECC nor the applicable Seller makes any representation or warranty concerning,
					 and has not investigated in any respect, the valuations or financial
					 adjustments contained in the Appraisals or of any industry data, aircraft or
					 Aircraft data (except solely the summary technical data provided by GECC),
					 methodologies, assumptions or conclusions contained in the
					 Appraisals);
 

 

		 

		
		  	 	
				  (h)

				  	
				  to
					 GECC’s or the applicable Seller’s knowledge, except if and as
					 disclosed by GECC or such Seller to the Purchaser thereof in the First
					 Disclosure Letter, no compulsory airworthiness directives are outstanding on
					 and as of the AP Closing Date against such Aircraft which will require, as of
					 the AP Closing Date based on the estimated cost of such work as of the AP
					 Closing Date, GECC or any other Seller or such Purchaser to make contributions
					 to the cost of compliance therewith as required under the provisions of the
					 Leases as in effect on the AP Closing Date in excess of $1,250,000 in the
					 aggregate for all Aircraft during the terms of the Leases (excluding any
					 extension or renewal thereof) for all Aircraft as in effect on the AP Closing
					 Date;
 

 

		 

		
		  	 	
				  (i)

				  	
				  to
					 GECC’s or the applicable Seller’s knowledge, except if and as
					 disclosed by GECC or such Seller to the Purchaser thereof in the First
					 Disclosure Letter, no options to purchase such Aircraft, extend or terminate
					 the relevant Lease have been exercised on or before the AP Closing Date by the
					 relevant Lessee under the relevant Lease Documents;
 

 

		 

		
		  	 	
				  (j)

				  	
				  the
					 information set forth in each of the Disclosure Letters with respect to such
					 Aircraft is or will be when issued true and accurate in all material respects
					 as of its date;
 

 

		
		   

		  
			 44
		  

		  

		  
  

		 

		
		  	 	
				  (k)

				  	
				  except
					 if and as advised by GECC or such Seller to the Purchaser thereof in the First
					 Disclosure Letter, to GECC’s or the applicable Seller’s knowledge, as
					 of the AP Closing Date, the provisions of each Lease relating to the granting
					 of any Security Deposit thereunder remain in full force and
					 effect;
 

 

		 

		
		  	 	
				  (l)

				  	
				  to
					 GECC’s or the applicable Seller’s knowledge and except if and as
					 advised by GECC or such Seller to the Purchaser thereof in the First Disclosure
					 Letter, as of the AP Closing Date, no event has occurred or act or thing done
					 or omitted to be done by GECC or any other Seller (excluding however from this
					 representation and warranty acts or things done or omitted to be done after the
					 AP Closing Date on the instructions of the Servicer acting on behalf of Genesis
					 Funding) pursuant to which or as a result of which the relevant Lease can be
					 terminated by the applicable Lessee in accordance with the terms of the
					 relevant Lease or the obligations of any such party thereunder would be
					 rendered invalid or unenforceable;
 

 

		 

		
		  	 	
				  (m)

				  	
				  to
					 GECC’s or the applicable Seller’s knowledge, except if and as advised
					 by GECC or such Seller to the Purchaser thereof in the First Disclosure Letter,
					 such Aircraft is not as of the AP Closing Date subject to any sub-lease
					 (exclusive of “wet-leases”) from the relevant Lessee;

				  

 

		 

		
		  	 	
				  (n)

				  	
				  to
					 GECC’s or the applicable Seller’s knowledge, the information provided
					 by GECC to the Purchaser thereof prior to the Delivery Date as to the
					 identities of all of such Seller’s predecessors in title to such Aircraft
					 thereof is complete and accurate in all material respects;
 

 

		 

		
		  	 	
				  (o)

				  	
				  to
					 GECC’s or the applicable Seller’s knowledge, except if and as advised
					 by GECC or such Seller to the Purchaser thereof in a Disclosure Letter, such
					 Aircraft has been accepted by the relevant Lessee under the Lease thereof
					 without qualification or exception or to the extent that any such acceptance
					 was given subject to any qualification or exception or subject to any liability
					 on the part of such Seller or relevant Affiliate of the Seller to pay or
					 reimburse any costs or expenses or to undertake any repairs or modifications at
					 the expense of such Seller, such qualifications and exceptions have been
					 discharged or waived by the Lessee and have ceased to apply and no such costs
					 or expenses remain to be reimbursed and all defects referred to therein have
					 been duly rectified or waived by such Lessee, or GECC or the applicable
					 Seller/lessor Affiliate of GECC has retained the rectification or payment
					 obligations associated therewith;
 

 

		 

		
		  	 	
				  (p)

				  	
				  except
					 for documents or provisions that will be inapplicable to the relevant Genesis
					 Funding Entity on and after the Delivery Date therefor, the information and
					 statements as to and relating to the relevant Lease and the Lease Documents set
					 forth in Schedule 2 as of the AP Closing Date or the Substitute Aircraft
					 Supplement, as applicable, are true and complete in all material
					 respects;
 

 

		 

		
		  	 	
				  (q)

				  	
				  the sale
					 of such Aircraft contemplated hereby constitutes a valid and irrevocable
					 transfer of all of the Seller’s right, title and interest in and to such
					 Aircraft to the 
 

 

		
		   

		  
			 45
		  

		  

		  
  

		 

		
		  Purchaser
			 thereof and after Delivery of such Aircraft such Seller shall retain no right,
			 title or interest in such Aircraft; 
 

		 

		
		  	 	
				  (r)

				  	
				  on and
					 as of the AP Closing Date the lessor under the relevant Lease pertaining to
					 such Aircraft shall have paid to the relevant Lessee all amounts then due and
					 payable on and as of the AP Closing Date by such lessor to such Lessee in
					 respect of maintenance theretofore performed on such Aircraft as required by
					 the Lease Documents; and
 

 

		 

		
		  	 	
				  (s)

				  	
				  GECC
					 represents and warrants that the representations and warranties made by the
					 Sellers herein are true and correct.
 

 

		 

		
		  	
				  8.3

				  	
				  Each BI
					 Seller further represents and warrants on each BI Transfer Date with respect to
					 the Transfer of the Beneficial Interest of the relevant Genesis Funding Entity
					 as follows:
 

 

		 

		
		  	 	
				  (a)

				  	
				  except
					 if and as advised by GECC to the Purchaser thereof in a Disclosure Letter, so
					 far as concerns the obligations of GECC and any such BI Seller (and except for
					 the registration of particulars of the relevant Lease Novation or Assignment of
					 Lease with the appropriate Air Authority or other actions referred to therein
					 or herein, if applicable) all authorizations, consents, registrations and
					 notifications required in connection with the entry into, performance, validity
					 and enforceability of, this Agreement, the transactions contemplated by this
					 Agreement and the other applicable Operative Documents to which it is a party,
					 have been (or will on or before the Delivery Date of such Aircraft have been)
					 obtained or effected (as appropriate) and are (or will on their being obtained
					 or effected be) in full force and effect;
 

 

		 

		
		  	 	
				  (b)

				  	
				  except
					 if and as advised by GECC to the Purchaser thereof in a Disclosure Letter, the
					 Lease Documents listed in Schedule 2 or the Substitute Aircraft Supplement, as
					 applicable, constitute the whole agreement between the relevant lessor and the
					 relevant Lessee as of Delivery (and pertaining to the period on and after
					 Delivery) relating to such Aircraft and includes a complete list (other than
					 the Operative Documents) of all amendments, supplements, novations, and written
					 consents, approvals and waivers relevant to the Lease with respect to the
					 period on and after Delivery, and there are no oral waivers in effect that
					 would modify or amend the terms thereof in any material respect with respect to
					 the period on and after Delivery;
 

 

		 

		
		  	 	
				  (c)

				  	
				  except
					 if and as advised by GECC to the Purchaser thereof in the First Disclosure
					 Letter, to GECC’s or the applicable BI Seller’s knowledge no Material
					 Default has occurred and is continuing under the relevant Lease on and as of
					 the AP Closing Date;
 

 

		 

		
		  	 	
				  (d)

				  	
				  except
					 if and as advised by GECC to the Purchaser thereof in the First Disclosure
					 Letter, there are no outstanding claims which have been asserted by the Lessee
					 against GECC or any other BI Seller arising out of the relevant Lease (other
					 than claims constituting Permitted Encumbrances and other than claims for
					 
 

 

		
		   

		  
			 46
		  

		  

		  
  

		 

		
		  maintenance
			 contribution payments that will be the responsibility of the BI Seller or for
			 other payments that will be the responsibility of the BI Seller) on and as of
			 the AP Closing Date;
 

		 

		
		  	 	
				  (e)

				  	
				  the
					 applicable BI Seller has, or at such BI Transfer Date will have, full legal and
					 beneficial title to such Beneficial Interest, free from Encumbrances other than
					 Permitted Encumbrances, and such Genesis Funding Entity (except with respect to
					 the Skymark Aircraft) will at such date have full legal and beneficial title to
					 the related Aircraft, free from Encumbrances other than Permitted Encumbrances
					 and the transfer of such Beneficial Interest is not avoidable or otherwise
					 subject to rescission by reason of a lawful claim of any other Person by or
					 through the applicable BI Seller (including a prior transferor thereof or of
					 the related Aircraft acting on behalf of or claiming through such BI Seller)
					 (other than a Permitted Encumbrance);
 

 

		 

		
		  	 	
				  (f)

				  	
				  with
					 respect to the Skymark Aircraft, SC Air has full legal title to the Skymark
					 Aircraft and the Skymark Beneficial Owner is in substance the beneficial owner
					 of the Skymark Aircraft, free from Encumbrances other than Permitted
					 Encumbrances;
 

 

		 

		
		  	 	
				  (g)

				  	
				  to
					 GECC’s or the applicable BI Seller’s knowledge, and except if and as
					 advised by GECC or such BI Seller to the Purchaser thereof in the First
					 Disclosure Letter, there are no Lessee Encumbrances on and as of the AP Closing
					 Date which are not permitted pursuant to the terms of the relevant Lease
					 Document;
 

 

		 

		
		  	 	
				  (h)

				  	
				  (i) to
					 GECC’s or the applicable BI Seller’s knowledge, such Aircraft has
					 not, except if and as advised by GECC or such BI Seller to the Purchaser
					 thereof in the First Disclosure Letter, been involved in any incident on or
					 before the AP Closing Date which caused damage in excess of the amount required
					 to be disclosed to the relevant lessor under the relevant Lease, and
					 (ii) the summary technical information provided by GECC and its
					 representatives to the Appraisers with respect to such Aircraft and on which
					 the Appraisers relied in making their Appraisals is true and correct in all
					 material respects and there are no facts or circumstances known to the
					 applicable BI Seller or GECC as of the AP Closing Date which would render any
					 of the technical specifications with respect to such Aircraft assumptions
					 contained in the Appraisals for such Aircraft to be materially inaccurate (and
					 for the avoidance of doubt, neither GECC nor the applicable BI Seller makes any
					 representation or warranty concerning, and has not investigated in any respect,
					 the valuations or financial adjustments contained in the Appraisals or of any
					 industry data, aircraft or Aircraft data (except solely the summary technical
					 data provided by GECC), methodologies, assumptions or conclusions contained in
					 the Appraisals);
 

 

		 

		
		  	 	
				  (i)

				  	
				  to
					 GECC’s or the applicable BI Seller’s knowledge, except if and as
					 advised by GECC or such BI Seller to the Purchaser thereof in the First
					 Disclosure Letter, no compulsory airworthiness directives are outstanding on
					 and as of the AP Closing Date against such Aircraft which will require, as of
					 the AP Closing Date based on the estimated cost of such work as of the AP
					 Closing Date, GECC or any other BI 
 

 

		
		   

		  
			 47
		  

		  

		  
  

		 

		
		  Seller
			 or such Purchaser to make contributions to the cost of compliance therewith as
			 required under the provisions of the Leases as in effect on the AP Closing Date
			 in excess of $1,250,000 in the aggregate for all Aircraft during the terms of
			 the Leases (excluding any extension or renewal thereof) for all Aircraft as in
			 effect on the AP Closing Date;
 

		 

		
		  	 	
				  (j)

				  	
				  to
					 GECC’s or the applicable BI Seller’s knowledge, except if and as
					 disclosed by GECC or such BI Seller to the Purchaser thereof in the First
					 Disclosure Letter, no options to purchase such Aircraft, extend or terminate
					 the relevant Lease have been exercised on or before the AP Closing Date by the
					 relevant Lessee under the relevant Lease Documents;
 

 

		 

		
		  	 	
				  (k)

				  	
				  the
					 information set forth in each of the Disclosure Letters with respect to such
					 Aircraft is or will be when issued true and accurate in all material respects
					 as of its date;
 

 

		 

		
		  	 	
				  (l)

				  	
				  except
					 if and as advised by GECC or such BI Seller to the Purchaser thereof in the
					 First Disclosure Letter, to GECC’s or the applicable BI Seller’s
					 knowledge, as of the AP Closing Date, the provisions of each Lease relating to
					 the granting of any Security Deposit thereunder remain in full force and
					 effect;
 

 

		 

		
		  	 	
				  (m)

				  	
				  to
					 GECC’s or the applicable BI Seller’s knowledge and except if and as
					 advised by GECC or such BI Seller to the Purchaser thereof in the First
					 Disclosure Letter, as of the AP Closing Date, no event has occurred or act or
					 thing done or omitted to be done by GECC or any other BI Seller (excluding
					 however from this representation and warranty acts or things done or omitted to
					 be done after the AP Closing Date on the instructions of the Servicer acting on
					 behalf of Genesis Funding) pursuant to which or as a result of which the
					 relevant Lease can be terminated by the applicable Lessee in accordance with
					 the terms of the relevant Lease or the obligations of any such party thereunder
					 would be rendered invalid or unenforceable;
 

 

		 

		
		  	 	
				  (n)

				  	
				  to
					 GECC’s or the applicable BI Seller’s knowledge, except if and as
					 advised by GECC or such BI Seller to the Purchaser thereof in the First
					 Disclosure Letter, such Aircraft is not as of the AP Closing Date subject to
					 any sub-lease (exclusive of “wet-leases”) from the relevant
					 Lessee;
 

 

		 

		
		  	 	
				  (o)

				  	
				  to
					 GECC’s or the applicable BI Seller’s knowledge, the information
					 provided by GECC to the Purchaser thereof prior to the Delivery Date as to the
					 identities of all of such BI Seller’s predecessors in title to such
					 Aircraft thereof is complete and accurate in all material
					 respects;
 

 

		 

		
		  	 	
				  (p)

				  	
				  to
					 GECC’s or the applicable BI Seller’s knowledge, except if and as
					 advised by GECC or such BI Seller to the Purchaser thereof in a Disclosure
					 Letter, such Aircraft has been accepted by the relevant Lessee under the Lease
					 thereof without qualification or exception or to the extent that any such
					 acceptance was given subject to any qualification or exception or subject to
					 any liability on the part of 
 

 

		
		   

		  
			 48
		  

		  

		  
  

		 

		
		  such BI
			 Seller or relevant Affiliate of the BI Seller to pay or reimburse any costs or
			 expenses or to undertake any repairs or modifications at the expense of such BI
			 Seller, such qualifications and exceptions have been discharged or waived by
			 the Lessee and have ceased to apply and no such costs or expenses remain to be
			 reimbursed and all defects referred to therein have been duly rectified or
			 waived by such Lessee, or GECC or the applicable Seller/lessor Affiliate of
			 GECC has retained the rectification or payment obligations associated
			 therewith;
 

		 

		
		  	 	
				  (q)

				  	
				  except
					 for documents or provisions that will be inapplicable to the relevant Genesis
					 Funding Entity on and after the Delivery Date therefor, the information and
					 statements as to and relating to the relevant Lease and the Lease Documents set
					 forth in Schedule 2 as of the AP Closing Date or the Substitute Aircraft
					 Supplement, as applicable, are true and complete in all material
					 respects;
 

 

		 

		
		  	 	
				  (r)

				  	
				  on and
					 as of the AP Closing Date the lessor under the relevant Lease pertaining to
					 such BI Aircraft shall have paid to the relevant Lessee all amounts then due
					 and payable on and as of the AP Closing Date by such lessor to such Lessee in
					 respect of maintenance theretofore performed on such BI Aircraft as required by
					 the Lease Documents; 
 

 

		 

		
		  	 	
				  (s)

				  	
				  the sale
					 of such Beneficial Interest contemplated hereby constitutes a valid and
					 irrevocable transfer of such Beneficial Interest and such BI Seller shall
					 retain no right, title or interest in such Beneficial Interest;

				  

 

		 

		
		  	 	
				  (t)

				  	
				  neither the
					 BI Seller nor anyone acting on its behalf has offered such Beneficial Interest
					 or any similar securities for sale to, or solicited any offer to buy any of the
					 same from, any person in a manner which would violate the Securities Act, and
					 neither the BI Seller nor anyone acting on their behalf have taken, or will
					 take, any action that would subject the issuance or sale of such Beneficial
					 Interest to the registration requirements of Section 5 of the Securities
					 Act;
 

 

		 

		
		  	 	
				  (u)

				  	
				  with
					 respect to each Genesis Funding Entity, except as set forth in the Formation
					 Agreements, there are no voting trusts, membership agreements, proxies or other
					 agreements or understandings in effect with respect to (i) the voting of the
					 Beneficial Interest or (ii) other than those contained in the Operative
					 Documents, the Lease Documents or the Formation Agreement, the Transfer of the
					 Beneficial Interest and, that no Formation Agreement contains any provision
					 that would prohibit or impair the Transfer of the applicable Beneficial
					 Interest in accordance with this Agreement;
 

 

		 

		
		  	 	
				  (v)

				  	
				  complete
					 and accurate copies of any membership register, minute book or stock register
					 with respect to the relevant Genesis Funding Entity have been provided to
					 Genesis Funding;
 

 

		 

		
		  	 	
				  (w)

				  	
				  to the
					 extent such exist, the books of account and other financial records of the
					 relevant Genesis Funding Entity accurately reflect all items of income and
					 expense and all assets and liabilities required to be reflected therein in
					 accordance 
 

 

		
		   

		  
			 49
		  

		  

		  
  

		
		   

		  with and
			 applied on a basis consistent with the past practices of such Genesis Funding
			 Entity;
 

		 

		
		  	 	
				  (x)

				  	
				  except
					 to the extent that same is the responsibility of the Lessee under a Lease, the
					 relevant Genesis Funding Entity has obtained and is maintaining all permits,
					 licenses, authorizations, certifications, exemptions and approvals necessary to
					 enable it to carry on its business as presently conducted (collectively, the
					 “Permits”),
					 and all such Permits are in full force and effect; and
 

 

		 

		
		  	 	
				  (y)

				  	
				  full and
					 accurate particulars of all material contracts or agreements (collectively, the
					 “Contracts”)
					 to which the relevant Genesis Funding Entity is a party at the AP Closing Date
					 that do not consist of the Formation Agreements, the Lease Documents, the
					 Operative Documents or other documents described herein and that do not pertain
					 to the Genesis Funding Entities’ ordinary course of business and that will
					 continue in effect after the Delivery Date have been disclosed to Genesis
					 Funding Limited in the First Disclosure Letter and each Contract including the
					 Formation Agreement, the Lease Documents and the Operative Documents (i) is
					 legal, valid and binding on the relevant Genesis Funding Entity and is in full
					 force and effect in accordance with its terms with respect to such Genesis
					 Funding Entity and (ii) upon completion of the transactions contemplated by the
					 Operative Documents, shall continue in full force and effect with respect to
					 such Genesis Funding Entity, without penalty or adverse consequence. To the
					 knowledge of GECC and the BI Sellers after due inquiry, neither the BI Sellers
					 nor the relevant Genesis Funding Entity is in breach of, or default under, any
					 Contract to which it is a party.
 

 

		 

		
		  	
				  8.4

				  	
				  GECC
					 with respect to each Genesis Funding Entity, and each BI Seller with respect to
					 such Genesis Funding Entity the Beneficial Interests of which such BI Seller
					 will Transfer, further represents and warrants on each BI Transfer Date as
					 follows:
 

 

		

		
		  	 	
				  (a)

				  	
				  such
					 Genesis Funding Entity is duly organized, validly existing and, to the extent
					 applicable, in good standing under the laws of the jurisdiction of its
					 organization and has full corporate, company, trust or other power and
					 authority to conduct its business as and to the extent now conducted and to
					 own, use and lease its assets. Such Genesis Funding Entity is duly qualified,
					 licensed or admitted to do business and is in good standing in those
					 jurisdictions in which the ownership, use or leasing of its assets, or the
					 conduct or nature of its business, makes such qualification, licensing or
					 admission necessary, except for those jurisdictions in which the adverse
					 effects of all such failures by such Genesis Funding Entity to be qualified,
					 licensed or admitted and in good standing can in the aggregate be eliminated
					 without material cost or expense by such Genesis Funding Entity, as the case
					 may be, becoming qualified or admitted and in good standing. GECC has, prior to
					 the execution of this Agreement, delivered to Purchaser true and complete
					 copies of such Genesis Funding Entity’s organizational documents
					 (including any limited liability company agreements, limited partnership
					 agreements or Formation Agreements) as in effect on the date
					 hereof.
 

 

		
		   

		  
			 50
		  

		  

		  
  

		 

		
		  	 	
				  (b)

				  	
				  the
					 Beneficial Interests of such Genesis Funding Entity are duly authorized,
					 validly issued, outstanding, fully paid and nonassessable. Seller owns the
					 Beneficial Interests, beneficially and of record, free and clear of all
					 Encumbrances (other than Permitted Encumbrances), and there are no other
					 Beneficial Interests of such Genesis Funding Entity issued and outstanding.
					 Except for this Agreement, there are no outstanding options to acquire the
					 Beneficial Interests or any other equity interest with respect to such Genesis
					 Funding Entity. Such Beneficial Interests are or will be represented by
					 certificates, and the delivery of a certificate or certificates at the Closing
					 representing the Beneficial Interests in the manner provided in Section 2.1
					 together with the Assignment of Beneficial Interest contemplated hereunder and
					 any recording thereof in the books and records of such Person will transfer to
					 Purchaser full legal and beneficial title to the Beneficial Interests, free and
					 clear of all Encumbrances (other than Permitted Encumbrances). In the case of
					 Beneficial Interests not represented by certificates, delivery of the
					 Assignment of Beneficial Interest and recording of Purchaser’s ownership
					 of such Beneficial Interests in the books and records of the Genesis Funding
					 Entity will transfer to Purchaser full legal and beneficial title to the
					 Beneficial Interests, free and clear of all Encumbrances (other than Permitted
					 Encumbrances).
 

 

		 

		
		  	 	
				  (c)

				  	
				  such
					 Genesis Funding Entity has no Subsidiaries except as disclosed in the First
					 Disclosure Letter.
 

 

		 

		
		  	 	
				  (d)

				  	
				  on or
					 prior to the BI Transfer Date, the Assignment of Lease or Lease Novation, as
					 the case may be, has been duly executed and delivered by all parties
					 thereto.
 

 

		 

		
		  	 	
				  (e)

				  	
				  except
					 for (i) the Aircraft listed on Schedule 1 for such Genesis Funding Entity, (ii)
					 cash or other property held for the account of any Lessee as Security Deposit,
					 (iii) any rights arising under the Operative Documents to which it is a party
					 and the Lease, other Lease Documents and any Intercompany Lease, (iv) any
					 Subsidiary disclosed in the First Disclosure Letter and (v) any receivables
					 disclosed in the First Disclosure Letter, such Genesis Funding Entity has no
					 other Assets.
 

 

		 

		
		  	 	
				  (f)

				  	
				  except
					 for the Formation Agreement, the Lease, the Lease Documents and the Assignment
					 of Lease or Lease Novation, as the case may be, there are no Encumbrances
					 (other than Permitted Encumbrances) on any of the assets or properties of such
					 Genesis Funding Entity and the Transfer of the Beneficial Interests in the
					 manner contemplated by this Agreement will not create any Encumbrances (other
					 than Permitted Encumbrances referenced in clause (1) or (2) of the definition
					 of such term) on the assets or properties of such Genesis Funding
					 Entity.
 

 

		 

		
		  	 	
				  (g)

				  	
				  such
					 Genesis Funding Entity has no employees, except as may be required by
					 Applicable Law.
 

 

		
		   

		  
			 51
		  

		  

		  
  

		 

		
		  	 	
				  (h)

				  	
				  to
					 GECC’s knowledge and such BI Seller’s knowledge, there are no Orders
					 outstanding against such Genesis Funding Entity.
 

 

		 

		
		  	 	
				  (i)

				  	
				  such
					 Genesis Funding Entity is not and has not at any time since its organization as
					 an entity been, or has received any notice that it is or has at any time since
					 its organization as an entity been, in violation of or in default under, in any
					 material respect, Applicable Law or Order applicable to such Genesis Funding
					 Entity or any of its assets or properties.
 

 

		 

		
		  	 	
				  (j)

				  	
				  no
					 liquidator, provisional liquidator, analogous or similar officer has been
					 appointed in respect of all or any part of the assets of such Genesis Funding
					 Entity nor has any application been made to a court which is still pending for
					 an Order for, or any act, matter or thing been done which with the giving of
					 notice, lapse of time or satisfaction of some other condition (or any
					 combination thereof) will lead to, the appointment of any such officers or
					 equivalent in any jurisdiction.
 

 

		 

		
		  	 	
				  (k)

				  	
				  as of
					 such BI Transfer Date, the entry into and performance by such Genesis Funding
					 Entity of, and the transactions contemplated by, the relevant Operative
					 Documents to which it is a party, on such BI Transfer Date while such
					 Beneficial Interest is owned by the BI Seller thereof, do not and will
					 not:
 

 

		 

		(i) breach
		  any laws, rules, regulations, orders, judgments or decrees binding on such
		  Genesis Funding Entity or any of their respective assets on such BI Transfer
		  Date while such Beneficial Interest is owned by the BI Seller thereof;
		  or

		 

		(ii) result
		  in any breach of, or constitute a default under the constitutional documents of
		  such Genesis Funding Entity on such BI Transfer Date while such Beneficial
		  Interest is owned by the BI Seller thereof; or

		 

		(iii) result
		  in any breach of, or constitute a default under any agreement, document or
		  instrument which is binding upon such Genesis Funding Entity or any of its
		  respective assets on such BI Transfer Date while such Beneficial Interest is
		  owned by the BI Seller thereof or result thereunder in the creation of any
		  Encumbrance (other than the Novated Lease or the Assigned Lease as the case may
		  be or other Permitted Encumbrance) over any of its respective assets to be
		  transferred to the relevant Purchaser hereunder.

		 

		
		  	 	
				  (l)

				  	
				  except
					 if and as advised by GECC or any BI Seller, as applicable, to the Purchaser in
					 a Disclosure Letter, no litigation, arbitration or claim before any court,
					 arbitrator, governmental or administrative agency or authority to which such
					 Genesis Funding Entity is a party which would have a material adverse effect on
					 the ability of such Genesis Funding Entity to observe or perform its respective
					 obligations under any applicable Operative Documents to which such Genesis
					 Funding Entity is a party on such BI Transfer Date while such Beneficial
					 Interest is owned by the BI Seller thereof is in progress, or to the knowledge
					 of GECC, or any BI Seller, as applicable, threatened against such Genesis
					 Funding Entity;
 

 

		
		   

		  
			 52
		  

		  

		  
  

		 

		
		  	 	
				  (m)

				  	
				  since
					 its acquisition of its interest in the applicable Aircraft such Genesis Funding
					 Entity has been covered by aviation liability insurance policies in such types
					 and amounts and covering such risks and with such insurers as are substantially
					 consistent with GECAS’s customary practices and such aviation liability
					 insurance remains in effect as to such Genesis Funding Entity on such BI
					 Transfer Date; and
 

 

		 

		
		  	 	
				  (n)

				  	
				  there
					 are no Liabilities of the relevant Genesis Funding Entity other than
					 Liabilities arising under the Lease Documents, the Formation Agreements or the
					 Operative Documents, Liabilities incurred in the ordinary course of business or
					 Liabilities disclosed in a Disclosure Letter or contemplated hereby.
					 
 

 

		 

		
		  	
				  8.5

				  	
				  Except
					 if and as advised by GECC to the Purchaser thereof in a Disclosure Letter, each
					 BI Seller of a Genesis Funding Non-Corporate Entity further represents and
					 warrants on the AP Closing Date with respect to the Transfer of the Beneficial
					 Interest of the relevant Genesis Funding Non-Corporate Entity as
					 follows:
 

 

		 

		
		  	 	
				  (a)

				  	
				  such
					 Genesis Funding Non-Corporate Entity is and has been at all time from its
					 organization an entity taxable as a disregarded entity for Federal income tax
					 purposes and the relevant BI Seller has made an election, where it is required,
					 to treat the Genesis Funding Non-Corporate Entity at all time from its
					 organization as an entity taxable either as a grantor trust or as a disregarded
					 entity for Federal, foreign, state and local income tax purposes;

				  

 

		

		
		  	 	
				  (b)

				  	
				  such
					 Genesis Funding Non-Corporate Entity has paid all Taxes that are due or claimed
					 or asserted by any taxing authority to be due from such Genesis Funding
					 Non-Corporate Entity on or prior to the AP Closing Date and there are no Tax
					 liens upon the assets of the Genesis Funding Non-Corporate Entity except liens
					 for Taxes not yet due; and
 

 

		

		
		  	 	
				  (c)

				  	
				  such
					 Genesis Funding Non-Corporate Entity has complied with all applicable laws,
					 rules, and regulations relating to the payment and withholding of Taxes
					 (including withholding and reporting requirements under Code Sections 1441
					 through 1464, 3401 through 3406, 6041 and 6049 and similar provisions under any
					 other applicable laws) and has, within the time and in the manner prescribed by
					 law, withheld from employee wages and paid over to the proper governmental
					 authorities all required amounts.
 

 

		 

		
		  	
				  8.6

				  	
				  Except
					 if and as advised by GECC to the Purchaser thereof in a Disclosure Letter, each
					 BI Seller of (i) a Genesis Funding Corporate Entity and (ii) of a
					 Genesis Funding Non-Corporate Entity to the extent such Genesis Funding
					 Non-Corporate Entity is not treated as a disregarded entity for foreign, state
					 or local income tax purposes (a “Genesis
					 Funding State Corporate Entity”)
					 further represents and warrants on the AP Closing Date with respect to the
					 Transfer of the Beneficial Interest of the relevant Genesis Funding Corporate
					 Entity or Genesis Funding State Corporate Entity as follows:
 

 

		
		   

		  
			 53
		  

		  

		  
  

		 

		
		  	 	
				  (a)

				  	
				  such
					 Genesis Funding Corporate Entity or such Genesis Funding State Corporate Entity
					 has filed (or has had filed on its behalf) all material Tax Returns required to
					 be filed by applicable law prior to the date hereof and all Tax Returns were
					 materially true, complete and, to the extent material, correct and filed on a
					 timely basis;
 

 

		 

		
		  	 	
				  (b)

				  	
				  such
					 Genesis Funding Corporate Entity or such Genesis Funding State Corporate Entity
					 has paid all material Taxes that are due, or claimed or asserted by any taxing
					 authority to be due, from the Genesis Funding Corporate Entity or such Genesis
					 Funding State Corporate Entity on or prior to the AP Closing Date and there are
					 no Tax liens upon such assets of the Genesis Funding Corporate Entity or such
					 Genesis Funding State Corporate Entity except liens for Taxes not yet
					 due;
 

 

		 

		
		  	 	
				  (c)

				  	
				  such
					 Genesis Funding Corporate Entity or such Genesis Funding State Corporate Entity
					 has complied with all applicable laws, rules, and regulations relating to the
					 payment and withholding of Taxes (including withholding and reporting
					 requirements under Code Sections 1441 through 1464, 3401 through 3406, 6041 and
					 6049 and similar provisions under any other applicable laws) and has, to the
					 extent material, within the time and in the manner prescribed by law, withheld
					 from employee wages and paid over to the proper governmental authorities all
					 required amounts;
 

 

		 

		
		  	 	
				  (d)

				  	
				  such
					 Genesis Funding Corporate Entity or such Genesis Funding State Corporate Entity
					 has not requested (and no request has been made on its behalf) any extension of
					 time within which to file any Tax Return;
 

 

		 

		
		  	 	
				  (e)

				  	
				  such
					 Genesis Funding Corporate Entity or such Genesis Funding State Corporate Entity
					 has not executed any outstanding waivers or comparable consents regarding the
					 application of the statute of limitations for any Taxes or Tax Returns (and no
					 extensions have been executed on its behalf);
 

 

		 

		
		  	 	
				  (f)

				  	
				  no
					 audits or other administrative proceedings or court proceedings are presently
					 pending with regard to any Taxes or Tax Returns of such Genesis Funding
					 Corporate Entity or such Genesis Funding State Corporate Entity;

				  

 

		 

		
		  	 	
				  (g)

				  	
				  such
					 Genesis Funding Corporate Entity or such Genesis Funding State Corporate Entity
					 has not received any written ruling of a taxing authority relating to Taxes, or
					 any other written and legally binding agreement with a taxing authority
					 relating to Taxes;
 

 

		 

		
		  	 	
				  (h)

				  	
				  such
					 Genesis Funding Corporate Entity has not filed (and will not file prior to the
					 AP Closing Date) a consent pursuant to Code Section 341(f) or any analogous
					 state or local Tax provision or agreed to have Code Section 341(f)(2) apply to
					 any disposition of a subsection (f) asset, as defined in Code Section
					 341(f)(4);
 

 

		 

		
		  	 	
				  (i)

				  	
				  such
					 Genesis Funding Corporate Entity is not required to include in income any
					 adjustment pursuant to Code Section 481(a) by reason of a voluntary change in
					 
 

 

		 

		
		  
			 54
		  

		  

		  
 
		   
 

		
		  accounting
			 method initiated by the Genesis Funding Corporate Entity and the Internal
			 Revenue Service has not proposed an adjustment or change in accounting method;
			 
 

		 

		
		  	 	
				  (j)

				  	
				  such
					 Genesis Funding Corporate Entity is not a party to any agreement, contract, or
					 arrangement that would result, separately or in the aggregate, in the payment
					 of any “excess parachute payments” within the meaning of Code Section
					 280G; 
 

 

		 

		
		  	 	
				  (k)

				  	
				  on or
					 before the AP Closing Date, such Genesis Funding Corporate Entity or such
					 Genesis Funding State Corporate Entity had no United States state or local, or
					 foreign Tax Return filing obligations in respect of income, franchise, doing
					 business or similar Taxes, other than, in the case of a Genesis Funding
					 Corporate Chinese Entity, its obligation for Delaware corporate income or
					 franchise tax; and
 

 

		 

		
		  	 	
				  (l)

				  	
				  GECC or
					 the relevant BI Seller has paid or will pay all Taxes with respect to the
					 operations of the Genesis Funding Corporate Entity or Genesis Funding State
					 Corporate Entity, for all such taxable periods ending on or before the AP
					 Closing Date and that portion of such taxable period that includes the AP
					 Closing Date (calculated as if the AP Closing Date were the end of a taxable
					 period).
 

 

		 

		
		  	
				  8.7

				  	
				  GECC
					 represents, warrants and covenants as follows:
 

 

		 

		
		  	 	
				  (a)
					 
 	
				  following
					 the Delivery Date for any Aircraft and unless as a result of a Final
					 Determination, neither GECC nor any of its Affiliates will claim for United
					 States federal, state or local or for foreign tax purposes to be the owner of
					 such Aircraft; and
 

 

		 

		
		  	 	
				  (b)

				  	
				  prior to
					 the AP Closing Date, GECC or its Affiliates treated itself as the owners of the
					 Aircraft for United States federal, state and local income tax
					 purposes.
 

 

		 

		 

		
		  	
				  8.8

				  	
				  GECC
					 further represents and warrants to Genesis Funding that, as of the date hereof
					 and as of the BI Transfer Date with respect to the Skymark Aircraft and after
					 giving effect to the novations, assignments and amendments contemplated
					 thereby, each of the Operative Documents related to the Skymark Aircraft is
					 legal, valid and binding on the Skymark Beneficial Owner and is in full force
					 and effect in accordance with its terms, and (b) upon completion of the
					 transactions contemplated by the Operative Documents, the Operative Documents
					 shall continue in full force and effect, without penalty or adverse
					 consequence, as to the Skymark Beneficial Owner. To GECC’s or the
					 applicable BI Seller’s knowledge, neither the Skymark Beneficial Owner nor
					 the applicable BI Seller is in breach of, or default under, any of the
					 Operative Documents to which it is a party.
 

 

		 

		
		  	
				  8.9

				  	
				  As used
					 herein “to GECC’s knowledge” and “to the Seller’s
					 knowledge” means the awareness of facts or other information by any person
					 at GECC or GECAS or the Seller, as the case may be, actively involved in the
					 transactions contemplated by this Agreement or (in respect of any Aircraft or
					 any Beneficial Interest related thereto), the leasing of 
 

 

		 

		
		  
			 55
		  

		  

		  
 
		   
 

		
		  such
			 Aircraft and something being “known to GECC” or being “known to
			 the Seller” shall be construed accordingly.
 

		 

		
		  	
				  8.10

				  	
				  GECC and
					 each other Seller acknowledges that each Purchaser is entering into this
					 Agreement and the other Operative Documents in reliance upon the accuracy of
					 each of the representations and warranties, which representations and
					 warranties have been given by GECC and the other Sellers so as to induce each
					 Purchaser to enter into this Agreement and the other Operative
					 Documents.
 

 

		 

		
		  	
				  8.11

				  	
				  The
					 representations and warranties may at the sole discretion of the relevant
					 Purchaser be waived by such Purchaser with or without conditions acceptable to
					 the Sellers, subject to in each case, the relevant Purchaser first obtaining
					 the prior written consent of the Policy Provider to any such
					 waiver.
 

 

		 

		
		  	
				  8.12

				  	
				  Subject
					 to Section 8.13, the benefit of the representations and warranties shall run to
					 the Security Trustee.
 

 

		 

		
		  	
				  8.13

				  	
				  The
					 representations and warranties in respect of any Aircraft shall continue and
					 survive in full force and effect after the Delivery Date therefor for a period
					 ending on the earlier of (x) the date of the payment in full of the Class G-1
					 Notes and all obligations owing to the Policy Provider and (y) six years after
					 the AP Closing Date, after which period no claim in respect thereof, pursuant
					 to an indemnity contained herein or otherwise, may be brought against a party
					 hereto except if notice of a claim of inaccuracy thereof has been given prior
					 to the close of such period.
 

 

		 

		
		  	
				  8.14

				  	
				  Each of
					 the representations and warranties shall be construed as a separate and
					 independent representation and warranty and shall not be limited or restricted
					 by reference to the terms of any other provision of this Agreement, the other
					 Operative Documents or any other representation or warranty.
 

 

		 

		
		  	
				  9.

				  	
				  REPRESENTATIONS
					 AND WARRANTIES OF THE PURCHASER
 

 

		 

		
		  	
				  9.1

				  	
				  Genesis
					 Funding hereby represents and warrants to GECC and each Seller as of the date
					 of this Agreement and on each subsequent Delivery Date that:
 

 

		 

		
		  	 	
				  (a)

				  	
				  Genesis
					 Funding is duly incorporated and validly existing under the laws of Bermuda,
					 and each other Purchaser of any Asset is a company or trust duly established
					 and validly existing under the laws of its jurisdiction of organization, and
					 each has the trust or corporate power (as the case may be) to own its assets
					 and carry on its business as it is being conducted;
 

 

		 

		
		  	 	
				  (b)

				  	
				  Genesis
					 Funding and each other Purchaser of any Asset has the trust or corporate power
					 (as the case may be) to enter into and perform, and has taken all necessary
					 action to authorize the entry into, performance and delivery of, this Agreement
					 and the other applicable Operative Documents to which it is a
					 party;
 

 

		 

		
		  	 	
				  (c)

				  	
				  this
					 Agreement and the other applicable Operative Documents to which it is a party
					 have been, or when executed and delivered will have been, duly entered into
					 
 

 

		 

		
		  
			 56
		  

		  

		  
 
		   
 

		
		  and
			 delivered by Genesis Funding and each other Purchaser of any Asset and
			 constitute or, in the case of any Operative Document to be executed on or about
			 the applicable Delivery Date, will constitute on such Delivery Date, each such
			 Person’s legal, valid and binding obligations;
 

		 

		
		  	 	
				  (d)

				  	
				  the
					 entry into and performance by Genesis Funding and any other Purchaser of any
					 Asset of, and the transactions contemplated by, this Agreement and the other
					 applicable Operative Documents to which it is a party do not and will
					 not:
 

 

		 

		
		  	 	
				  (i)

				  	
				  conflict
					 with any laws binding on Genesis Funding or any other Purchaser of any Asset;
					 or
 

 

		 

		
		  	 	
				  (ii)

				  	
				  result
					 in any breach of, or constitute a default under the constitutional documents of
					 Genesis Funding or any other Purchaser of any Asset; or
 

 

		 

		
		  	 	
				  (iii)

				  	
				  result
					 in any breach of, or constitute a default under or result in default under any
					 document which is binding upon Genesis Funding or any other Purchaser of any
					 Asset or any of their respective assets;
 

 

		 

		
		  	 	
				  (e)

				  	
				  so far
					 as concerns the obligations of Genesis Funding and any other Purchaser of any
					 Asset, all authorizations, consents, registrations and notifications required
					 in connection with the entry into, performance, validity and enforceability of,
					 this Agreement and the other applicable Operative Documents to which any such
					 Person is a party and the Servicing Agreement and the transactions contemplated
					 by this Agreement and the other applicable Operative Documents to which any
					 such Person is a party, have been obtained or effected (as appropriate) and are
					 (or will on their being obtained or effected be) in full force and
					 effect;
 

 

		 

		
		  	 	
				  (f)

				  	
				  the
					 provisions of Section 14 concerning applicable law, service of process and
					 jurisdiction are valid and binding on Genesis Funding and each other Purchaser
					 under the laws of the State of New York, and no provision purporting to be
					 binding on Genesis Funding or any other Purchaser of any Asset, this Agreement
					 or any of the other applicable Operative Documents is prohibited, unlawful or
					 unenforceable under the laws of the State of New York;
 

 

		 

		
		  	 	
				  (g)

				  	
				  no
					 liquidator, provisional liquidator, official manager, trustee, Irish law
					 examiner, receiver or receiver and manager or similar officer has been
					 appointed in respect of all or any part of the assets of Genesis Funding or any
					 other Purchaser of any Asset nor has any application been made to a court which
					 is still pending for an order for, or any act, matter or thing been done which
					 with the giving of notice, lapse of time or satisfaction of some other
					 condition (or any combination thereof) will lead to the appointment of any such
					 officers;
 

 

		 

		
		  	 	
				  (h)

				  	
				  no
					 litigation, arbitration or claim before any court, arbitrator, governmental or
					 administrative agency or authority which would have a material adverse effect
					 on the ability of Genesis Funding or any other Purchaser of any Asset to
					 observe or perform its obligations under this Agreement is in progress, or to
					 the knowledge of any such Person, threatened against any such
					 Person;
 

 

		 

		
		  
			 57
		  

		  

		  
 
		   
 

		
		  	 	
				  (i)

				  	
				  Genesis
					 Funding and each other Purchaser of any Asset intends for the sale of any
					 Aircraft contemplated hereby to constitute a valid transfer of such Aircraft to
					 the relevant Purchaser and intends that after Delivery of such Aircraft the
					 Seller thereof shall retain no right, title or interest in such Aircraft;
					 and
 

 

		 

		
		  	 	
				  (j)

				  	
				  Genesis
					 Funding represents and warrants that the Beneficial Interest of any Genesis
					 Funding Entity purchased by Genesis Funding is being acquired for investment
					 for Genesis Funding’s own account, not as a nominee or agent, and not with
					 a view to the resale or distribution of any part thereof, and that Genesis
					 Funding has no intent of selling, granting any participation in, or otherwise
					 distributing the same in violation of the Securities Act.
 

 

		 

		
		  	
				  10.

				  	
				  INDEMNITY

				  

 

		 

		
		  	
				  10.1

				  	
				  Each
					 Purchaser of an Asset or Aircraft agrees to indemnify the Seller on its behalf
					 and on behalf of each other Seller Indemnitee from and against any claims,
					 damages, losses, costs, expenses, fees, payments, demands, liabilities,
					 actions, proceedings, penalties or fines (“Losses”)
					 (other than, in each case, on account of any Taxes resulting from any Delivery)
					 which any Seller Indemnitee may incur in relation to such Asset or Aircraft to
					 the extent it arises (A) out of an event that occurs on or after the AP Closing
					 Date and (B) in connection with any of the Retained Rights.
 

 

		 

		
		  	
				  10.2

				  	
				  Without
					 derogation to the disclaimer in Section 12, each Seller of an Aircraft agrees
					 to indemnify the Purchaser thereof on its behalf and on behalf of each
					 Purchaser Indemnitee from and against any Losses which any Purchaser Indemnitee
					 may incur in relation to such Asset or Aircraft to the extent it arises out of
					 an event (which term shall exclude when used in this Section 10.2 anything
					 related to or connected with the design, manufacture, maintenance, repair,
					 rebuilding, overhaul, refurbishment or similar activity with respect to any
					 Aircraft (including any engine or part)) that occured prior to the AP Closing
					 Date. 
 

 

		 

		
		  	
				  10.3

				  	
				  If a
					 written claim is made against a party (the “first
					 party”)
					 for any sum which is the subject of an indemnity by the other party (the
					 “indemnifying
					 party”)
					 under this Section 10, the first party will promptly notify the indemnifying
					 party. If reasonably requested by the indemnifying party in writing within 30
					 days following receipt by the indemnifying party of such notice, and provided
					 the first party is indemnified by the indemnifying party against costs and
					 expenses, the first party will in good faith contest in its name (or, at the
					 indemnifying party’s election if such contest may be undertaken by the
					 indemnifying party in its own name or on behalf of the indemnifying party,
					 permit the indemnifying party to contest) the validity, applicability and
					 amount of such claim in appropriate administrative and judicial proceedings;
					 provided that the first party shall have no such obligation if any such contest
					 would expose the first party itself to an indemnifiable liability
					 claim.
 

 

		 

		
		  	
				  10.4

				  	
				  The
					 relevant Seller or GECC shall pay, within 45 days after receipt of an approved
					 invoice therefor, costs and expenses, including reasonable legal fees and
					 disbursements, 
 

 

		 

		
		  
			 58
		  

		  

		  
 
		   
 

		
		  which
			 the relevant Purchaser incurs as a result of (but subject to the provisions of
			 Section 4.3 in the case of clauses (ii) and (iii) below):
 

		 

		
		  	 	
				  (i)

				  	
				  the
					 application of Section 4.1 (including, without limitation, costs incurred in
					 arranging or taking steps to arrange the preparation, execution and delivery of
					 any documents in anticipation of Delivery of a Substitute Aircraft);
					 or
 

 

		 

		
		  	 	
				  (ii)

				  	
				  any of
					 the documents or conditions referred to in Schedule 3 not being satisfied on or
					 before Delivery of the relevant Aircraft or Transfer of the Beneficial Interest
					 of the relevant Aircraft or any of the documents or conditions referred to in
					 Schedule 4 not being satisfied within the period specified therein;
					 or
 

 

		 

		
		  	 	
				  (iii)

				  	
				  any
					 condition referred to in Section 7.2(a) or (b) not being satisfied on or before
					 Delivery of the relevant Aircraft or Beneficial Interest.
 

 

		 

		
		  	
				  10.5

				  	
				  If and
					 to the extent that any sums constituting (directly or indirectly) an indemnity
					 to the first party but paid by the indemnifying party pursuant to this
					 Agreement are treated as taxable in the hands of the first party, the
					 indemnifying party will pay to the first party such sums as will after the tax
					 liability has been fully satisfied indemnify the first party to the same extent
					 as it would have been indemnified in the absence of such liability together
					 with interest on the amount payable by the indemnifying party under this
					 sub-clause at the rate of interest stated in Section 5.7 in respect of the
					 period commencing on the date on which the payment of taxation is finally due
					 until payment by the indemnifying party (both before and after judgment), but
					 the indemnifying party will be under no liability to make any payment under
					 this Section 10.5 to the first party to the extent the first party would be in
					 a better position than if no payment by way of indemnity had needed to have
					 been made.
 

 

		 

		
		  	
				  11.

				  	
				  TAXES

				  

 

		 

		
		  	 	
				  (a)

				  	
				  GECC and
					 each Seller of an Asset hereby covenants to pay all Taxes imposed on the
					 Purchaser of an Aircraft or a Beneficial Interest thereof, on Genesis Funding
					 (or any assignee or successor thereto) or on any Aircraft, any Beneficial
					 Interest, the Lease Documents or the Operative Documents as a result of (i) the
					 execution of, delivery of or performance under this Agreement, (ii) the
					 Delivery of any Aircraft or Transfer of the Beneficial Interest in a Genesis
					 Funding Entity that holds title to any Aircraft, (iii) any required
					 re-registration of title to or the lease of any Aircraft with any Government
					 Entity that is necessary or advisable to reflect or record the Operative
					 Documents or the events occurring pursuant to the Operative Documents, (iv) the
					 purchase by such Purchaser of any Aircraft or Beneficial Interest hereunder,
					 (v) such Purchaser’s entering into of the Lease Documents and the
					 Operative Documents, (vi) without regard to clause (y) of this Section 11(a),
					 the inaccuracy of such Seller’s representation or warranty or the breach
					 by such Seller of any covenant, or (vii) an Aircraft being located in an
					 Transfer Tax Jurisdiction at any time whether before or after the moment of
					 Delivery on the Delivery Date for such Aircraft or on the AP Closing Date,
					 other than (v) Taxes in respect of events occurring after, but not on, the
					 Delivery Date 
 

 

		 

		
		  
			 59
		  

		  

		  
 
		   
 

		
		  unless
			 arising as a result of events described in clause (iii) or (vi) above, (w) in
			 the case of clause (vii), Taxes imposed by a Jurisdiction other than the
			 Transfer Tax Jurisdiction, (x) Taxes that the relevant Lessee is liable to pay
			 or reimburse under the relevant Lease and/or the Operative Documents, (y) any
			 Taxes (other than sales, use and similar Taxes and Taxes which are imposed as a
			 result of an event described in clause (vi) of this Section 11(a)) imposed on
			 the Purchaser of such Aircraft or any other Purchaser that are based on or
			 measured by gross or net income or receipts (including, without limitation,
			 withholding and Taxes on tax preference items) of such Purchaser or any other
			 Purchaser or that are capital, doing business, accumulated earnings, personal
			 holding company, excess profits, successor, estate or net worth Taxes of such
			 Purchaser (including interest, additions to Tax, penalties, or other charges in
			 respect thereof), in each case to the extent imposed on the Purchaser or any
			 other Purchaser by reason of such Purchaser or an Affiliate thereof being
			 organized in the jurisdiction imposing such Taxes or conducting activities in
			 such jurisdiction unrelated to the transactions contemplated by the Operative
			 Documents or (z) Taxes resulting from the gross negligence or willful
			 misconduct of such Purchaser.

As used
		  herein, “Transfer Tax Jurisdiction” means a jurisdiction that imposes
		  Tax on an Asset or any Person directly or indirectly holding an interest in the
		  Asset by reason of a transfer of the Asset or a beneficial interest in the
		  Asset as a result of the applicable Aircraft being located in that
		  jurisdiction.

		

		
		  	 	
				  (b)

				  	
				  Each
					 Purchaser covenants not to bring into the United Kingdom any document held by
					 it subject to stamp duty in the United Kingdom and covered by the indemnity in
					 Section 11(a) above unless it is necessary to do so to enforce the same,
					 whereupon such Purchaser shall notify the relevant Seller that it has brought
					 such a document into the United Kingdom and such Seller shall be responsible
					 for the payment of such duty.
 

 

		

		
		  	 	
				  (c)

				  	
				  Each BI
					 Seller of each Genesis Funding Entity hereby covenants to pay and to indemnify
					 and hold harmless such Genesis Funding Entity and its Affiliates (and their
					 direct and indirect beneficial interest holders) from any and all claims,
					 actions, causes of action, liabilities, losses, damages, and reasonable
					 out-of-pocket expenses and costs resulting from, arising out of or relating to
					 (i) all Taxes imposed on the Genesis Funding Entity or the Purchaser thereof
					 related to the activity of the Genesis Funding Entity for all taxable periods
					 ending on or before the AP Closing Date, (ii) all Taxes imposed on the Genesis
					 Funding Entity or Purchaser thereof for such portion of any taxable period
					 including the AP Closing Date as ends on the AP Closing Date, (calculated as if
					 the AP Closing Date had been the last day of a taxable period and the books of
					 the Genesis Funding Entity had been closed on such day (it being understood
					 that Taxes other than income Taxes for which the last day of a taxable period
					 is not the AP Closing Date are to be allocated in a manner that fairly reflects
					 (and is no less favorable to the Purchaser than pro rata per day) the period
					 ending on the AP Closing Date and the period commencing after the AP Closing
					 Date)) and (iii) any Tax liability that 
 

 

		 

		
		  
			 60
		  

		  

		  
 
		   
 

		
		  arises
			 solely by reason of the Genesis Funding Entity being severally liable for any
			 Tax of the consolidated group (or combined group pursuant to Treasury
			 Regulation Section 1.1502-6 or any analogous state or local Tax provisions) of
			 which GECC or a BI Seller is a member (the “GE
			 Group”)
			 other than, in the case of clauses (i), (ii) and (iii) Taxes that the relevant
			 Lessee is liable to pay or reimburse under the relevant Lease and/or the
			 Operative Documents; provided,
			 however, in the
			 case of clauses (i) and (ii) above, Taxes imposed with respect to the
			 activities of a Genesis Funding Entity or the Purchaser after the time the sale
			 contemplated by this Agreement is effective shall be subject to indemnification
			 only to the extent (A) (I) set forth in Section 11(a)(vi) or (vii) or (II) such
			 Taxes arise in connection with the sale on the AP Closing Date of any direct or
			 indirect beneficial interest in the Genesis Funding Entities, and (B) such
			 Taxes do not arise as a result of an election under Section 338 of the Code or
			 similar election under Tax laws of any jurisdiction outside of the United
			 States provided,
			 further, that
			 the BI Seller shall not be responsible for Taxes measured by net income
			 attributable to any Rent received by Genesis Funding solely allocable to the
			 period on and after the AP Closing Date or for Taxes fully provided for as
			 set forth in the First Disclosure Letter. In the case of Taxes payable by GECC
			 and a BI Seller pursuant to clause (ii), the amount of such Taxes, as
			 reasonably computed by the Purchaser, will be remitted to the Purchaser at
			 least three business days prior to the due date of the relevant Tax Return
			 (with interest being imposed at a rate equal to Purchaser’s or its
			 Affiliate’s cost of funds (as documented by the Purchaser or its Affiliate
			 in a reasonable manner) for any late payment.
 

		 

		
		  	 	
				  (d)

				  	
				  Each BI
					 Seller of a Genesis Funding Corporate Entity or a Genesis Funding State
					 Corporate Entity hereby covenants:
 

 

		 

		
		  	 	
				  (i)

				  	
				  any tax
					 sharing agreements, tax settlement agreements, arrangements, policies or
					 guidelines, formal or informal, express or implied that may exist between any
					 Genesis Funding Corporate Entity or Genesis Funding State Corporate Entity and
					 GECC, any Seller or any Affiliate of GECC or any Seller (other than the Genesis
					 Funding Corporate Entity or Genesis Funding State Corporate Entity) (a
					 “Tax
					 Sharing Agreement”)
					 shall terminate as of the AP Closing Date and, except as specifically provided
					 herein, any obligation to make payments under any Tax Sharing Agreement shall
					 be cancelled as of the AP Closing Date;
 

 

		 

		
		  	 	
				  (ii)

				  	
				  if any
					 Genesis Funding Corporate Entity or Genesis Funding State Corporate Entity has
					 been a member of a United States consolidated federal income tax return or any
					 foreign, state or local consolidated or combined income or franchise tax
					 returns, the BI Seller shall cause such Genesis Funding Corporate Entity, to
					 the extent permitted by law, to continue to join in such returns through the AP
					 Closing Date;
 

 

		 

		
		  	 	
				  (iii)

				  	
				  the GE
					 Group shall timely prepare and file (or cause to be so prepared and filed) all
					 Tax Returns required by law, covering any Genesis Funding 
 

 

		 

		
		  
			 61
		  

		  

		  
 
		   
 

		
		  Corporate
			 Entity or Genesis Funding State Corporate Entity for all taxable periods ending
			 on or before the AP Closing Date (“Pre-Closing
			 Tax Returns”);

		  

		 

		
		  	 	
				  (iv)

				  	
				  the GE
					 Group shall timely pay or cause to be paid or fully provide for as set forth in
					 the First Disclosure Letter all Taxes related to Pre-Closing Tax Returns
					 (“Pre-Closing
					 Taxes”)
					 of such Genesis Funding Corporate Entity or Genesis Funding State Corporate
					 Entity;
 

 

		 

		
		  	 	
				  (v)

				  	
				  GECC or
					 the relevant Seller will, to the extent permitted by applicable law, elect, or
					 assist Purchaser to elect, with the relevant foreign United States state and
					 local taxing authorities to close the taxable period of each Genesis Funding
					 Corporate Entity or Genesis Funding State Corporate Entity on the AP Closing
					 Date, however, in any
					 case, where applicable law does not permit such Genesis Funding Corporate
					 Entity or such Genesis Funding State Corporate Entity to close its taxable year
					 on the AP Closing Date, the Purchaser will be responsible for and will cause to
					 be prepared and duly filed all Tax Returns relating to Taxes of such Genesis
					 Funding Corporate Entity for any taxable period which includes and ends after
					 the AP Closing Date; and
 

 

		 

		
		  	 	
				  (vi)

				  	
				  after
					 the AP Closing Date, GECC and the relevant Seller of each Genesis Funding
					 Corporate Entity will cooperate in the preparation of all Tax Returns of such
					 Genesis Funding Corporate Entity and Genesis Funding State Corporate Entity and
					 will provide (or cause to be provided) any records and other information the
					 Purchaser requests that are reasonably necessary for the preparation of such
					 Tax Returns and GECC and the relevant Seller will cooperate with the Purchaser
					 in connection with any Tax investigation, audit or other proceeding related to
					 such Genesis Funding Corporate Entity; provided that if any of the information
					 requested is contained in tax returns or other documents involving matters
					 unrelated to the Genesis Funding Corporate Entity or Genesis Funding State
					 Corporate Entity or it otherwise confidential information, then GECC and the
					 relevant Seller will be required to provide such information only to a
					 nationally recognized firm of independent accounts selected by the Purchaser
					 and reasonably satisfactory to GECC which independent accounting firm will
					 prepare such Tax Returns without disclosure of the confidential information to
					 the Genesis Funding Corporate Entity or the Genesis Funding State Corporate
					 Entity; provided, further, however, that nothing in the preceding proviso will
					 prevent the Genesis Funding Corporate Entity or the Genesis Funding State
					 Corporate Entity from reviewing its Tax Returns.
 

 

		 

		
		  	 	
				  (e)

				  	
				  GECC and
					 the relevant Seller of each Genesis Funding Corporate Entity shall have the
					 right to control any audit or examination relating to Taxes by any taxing
					 authority, initiate any claim for refund, file any amended return, contest,
					 resolve and defend against any assessment, notice of deficiency or other
					 adjustment or 
 

 

		 

		
		  
			 62
		  

		  

		  
 
		   
 

		
		  proposed
			 adjustment relating or with respect to any Taxes of any Genesis Funding
			 Corporate Entity or Genesis Funding State Corporate Entity for all taxable
			 periods ending prior to or on the AP Closing Date and for that portion of any
			 taxable period that includes the AP Closing Date that ends on the AP Closing
			 Date (an “Event”),
			 and shall be entitled to all refunds with respect to such taxable periods or
			 portions thereof; however, to the
			 extent that an Event could result in liability for the Purchaser pursuant to
			 this Agreement, GECC or the Seller shall notify the Purchaser of such Event,
			 and shall consult with the Purchaser with respect to the resolution of any
			 issue relating to Taxes arising as a result of or in connection with such
			 Event.
 

		 

		
		  	 	
				  (f)

				  	
				  In the
					 event that there are or may be Taxes that GECC or a Seller is or will be
					 obligated to pay under this Section 11, Genesis Funding and its Subsidiaries
					 will take such steps as may be reasonable and appropriate or requested by GECC
					 or such applicable Seller and at the expense of GECC or such Seller to mitigate
					 such Taxes or to recover such Taxes or to obtain a refund or credit of such
					 Taxes but only to the extent that Genesis Funding or its applicable Subsidiary
					 can lawfully do so and without material prejudice to its tax position or
					 otherwise to it. 
 

 

		 

		
		  	
				  12.

				  	
				  WARRANTIES
					 AND DISCLAIMERS 

				  

 

		 

		
		  	
				  12.1

				  	
				  WITHOUT
					 PREJUDICE TO THE EXPRESS TERMS AND CONDITIONS STATED HEREIN AND IN THE OTHER
					 OPERATIVE DOCUMENTS, EACH AIRCRAFT WILL BE DELIVERED AND SOLD (OR IN THE CASE
					 OF THE BI AIRCRAFT, DEEMED DELIVERED AND SOLD ON THE RELEVANT BI TRANSFER DATE
					 TO GENESIS FUNDING ) IN ITS “AS IS, WHERE IS” CONDITION, AND EXCEPT
					 AS EXPRESSLY STATED IN SECTION 8 OF THIS AGREEMENT AND AS OTHERWISE REPRESENTED
					 AND WARRANTED HEREIN, IN THE OTHER OPERATIVE DOCUMENTS AND/OR IN THE BILL OF
					 SALE OR ACKNOWLEDGEMENT OF DELIVERY AND/OR ASSIGNMENT OF BENEFICIAL INTEREST
					 (AS THE CASE MAY BE) FOR OR IN RESPECT OF SUCH AIRCRAFT OR ANY CERTIFICATE
					 DELIVERED PURSUANT TO THIS AGREEMENT, THE SELLER (AND THE APPLICABLE GENESIS
					 FUNDING ENTITY) MAKES NO WARRANTIES, GUARANTEES OR REPRESENTATIONS, EXPRESS OR
					 IMPLIED, ARISING BY LAW OR OTHERWISE, WITH RESPECT TO ANY OF THE
					 AIRCRAFT.
 

 

		 

		
		  	
				  12.2

				  	
				  EACH
					 PURCHASER WAIVES, RELEASES AND RENOUNCES ALL WARRANTIES (EXCEPT AS OTHERWISE
					 EXPRESSLY REPRESENTED AND WARRANTED BY GECC OR ANY SELLER IN THIS AGREEMENT,
					 ANY BILL OF SALE OR ACKNOWLEDGMENT OF DELIVERY, ANY ASSIGNMENT OF BENEFICIAL
					 INTEREST OR IN ANY OTHER OPERATIVE DOCUMENT OR CERTIFICATE DELIVERED
					 HEREUNDER), OBLIGATIONS AND LIABILITIES OF ANY SELLER (OR GENESIS FUNDING
					 ENTITY) INCLUDING BUT NOT LIMITED TO (1) ANY IMPLIED WARRANTY AS TO THE
					 DESCRIPTION, AIRWORTHINESS, MERCHANTABILITY, FITNESS FOR ANY PURPOSE, VALUE,
					 CONDITION, DESIGN, DATA PROCESSING, USE OR OPERATION OF 
 

 

		 

		
		  
			 63
		  

		  

		  
 
		   
 

		
		  THE
			 AIRCRAFT OR ANY PAST PERFORMANCE, COURSE OF DEALING, USAGE OR TRADE OR
			 OTHERWISE, (2) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM OR REMEDY IN TORT
			 (INCLUDING STRICT LIABILITY), AND (3) ANY OBLIGATION, LIABILITY, RIGHT, CLAIM
			 OR REMEDY FOR LOSS OF OR DAMAGE TO THE AIRCRAFT, FOR LOSS OF USE, REVENUE OR
			 PROFIT WITH RESPECT TO THE AIRCRAFT, FOR ANY LIABILITY OF ANY LESSEE TO ANY
			 THIRD PARTY, FOR ANY LIABILITY OF THE PURCHASER TO ANY THIRD PARTY, OR FOR ANY
			 OTHER DIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES; AND ALL SUCH
			 WARRANTIES, GUARANTEES, REPRESENTATIONS, OBLIGATIONS, LIABILITIES, RIGHTS,
			 CLAIMS OR REMEDIES, EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, ARE EXPRESSLY
			 EXCLUDED.
 

		 

		
		  	
				  12.3

				  	
				  THIS
					 SECTION 12 SHALL NOT BE MODIFIED EXCEPT BY A WRITTEN AGREEMENT SIGNED ON BEHALF
					 OF THE SELLER AND THE PURCHASER BY THEIR RESPECTIVE DULY AUTHORIZED
					 REPRESENTATIVES.
 

 

		 

		
		  	
				  13.

				  	
				  ASSIGNMENT

				  

 

		 

		
		  	
				  13.1

				  	
				  No
					 Purchaser of an Asset or Aircraft shall assign, transfer or otherwise convey
					 this Agreement or all or any part of its rights hereunder to any Person without
					 the prior written consent of the Seller of such Asset or Aircraft other than in
					 favor of the Security Trustee under the Security Trust Agreement, to which the
					 Seller hereby consents.
 

 

		 

		
		  	
				  13.2

				  	
				  Neither
					 GECC nor any Seller of an Asset or Aircraft shall assign, transfer or otherwise
					 convey this Agreement or all or any part of its rights hereunder to any Person
					 without the prior written consent of the Purchaser of such Asset or Aircraft
					 other than so far as concerns assignments to existing owners or financiers or
					 Affiliates of such Seller of amounts or its rights to receive amounts payable
					 to such Seller hereunder on terms and conditions which do not increase any
					 obligation of such Purchaser hereunder or otherwise expose such Purchaser to
					 any increased liability, cost or expense. Notwithstanding the foregoing, the
					 Seller may at any time and from time to time assign its rights under this
					 Agreement (but not its obligations) with respect to one or more of the Aircraft
					 to Chicago Deferred Exchange Corporation (“CDEC”)
					 and CDEC may subsequently reassign such rights to the Seller, in each case
					 without having to obtain the prior written consent of the Purchaser but in each
					 case giving the Purchaser written notice of such assignment and in the exercise
					 of such rights, CDEC shall be bound by the terms and provisions of Section 14.2
					 hereof.
 

 

		 

		
		  	
				  14.

				  	
				  MISCELLANEOUS 

				  

 

		 

		
		  	
				  14.1

				  	
				  Subject
					 to Sections 8.13 and 12.2, GECC shall indemnify, hold harmless and defend
					 Genesis Funding, each other Purchaser and in connection with Section 8.7 hereof
					 only any holders of Class A and/or B Shares in Genesis Funding and Affiliates
					 thereof and their respective successors and assigns from and against all
					 liabilities, obligations, claims, demands, judgments, causes of action,
					 damages, costs, losses and expenses (including reasonable legal fees, costs)
					 resulting from or arising out of or pertaining to any claim 
 

 

		 

		
		  
			 64
		  

		  

		  
 
		   
 

		
		  which
			 results from any breach by GECC or any other Seller of any of its obligations,
			 representations, warranties or covenants under this Agreement, any Assignment
			 of Beneficial Interest, any Acknowledgement of Delivery or any Bill of Sale and
			 solely in respect of any claim that arises with respect to any holders of
			 beneficial interest in Genesis Funding and Affiliates thereof, GECC shall have
			 the rights set forth in Sections 10.3 and 11(e) in respect of such
			 claim.
 

		 

		
		  	
				  14.2

				  	
				  None of
					 GECC or any other Seller shall take any steps for the purpose of procuring the
					 appointment of any administrative receiver or the making of any administrative
					 order or for instituting any bankruptcy, reorganization, arrangement,
					 insolvency, winding up, liquidation, composition or any like proceedings under
					 the laws of any jurisdiction in respect of Genesis Funding or any other
					 Purchaser or in respect of any of their respective liabilities, including,
					 without limitation, as a result of any claim or interest of any of GECC or any
					 other Seller.
 

 

		 

		
		  	
				  14.3

				  	
				  No
					 amendment or waiver of any provision of this Agreement, and no consent to any
					 departure herefrom by any party hereto, shall in any event be effective unless
					 the same shall be in writing and signed by each party hereto and the Policy
					 Provider, and then such waiver or consent shall be effective only in the
					 specific instance and for the specific purpose for which given. No failure on
					 the part of any party hereto to exercise, and no delay in exercising, any right
					 hereunder shall operate as a waiver thereof; nor shall any single or partial
					 exercise of any such right preclude any other or further exercise thereof or
					 the exercise of any other right.
 

 

		 

		
		  	
				  14.4

				  	
				  In the
					 event that any provision of this Agreement or the application thereof to any
					 party hereto or to any circumstance or in any jurisdiction governing this
					 Agreement shall, to any extent, be invalid or unenforceable under any
					 applicable statute, regulation or rule of law, then such provision shall be
					 deemed inoperative to the extent that it is invalid or unenforceable and the
					 remainder of this Agreement, and the application of any such invalid or
					 unenforceable provision to the parties, jurisdictions or circumstances other
					 than to whom or to which it is held invalid or unenforceable, shall not be
					 affected thereby nor shall the same affect the validity or enforceability of
					 this Agreement.
 

 

		 

		
		  	
				  14.5

				  	
				  All
					 notices and other communications provided for hereunder shall be in writing
					 (including telecopier) and mailed, telecopied or delivered to the intended
					 recipient at its address specified in Section 12.05 of the Indenture or, in the
					 case of GECC or any Seller, as follows:
 

 

		

		General
		  Electric Capital Corporation

		201 High
		  Ridge Road

		Stamford,
		  Connecticut 06927-9448

		
		  	
				  Attention:  
					 
 	
				  Senior
					 Vice President-Corporate Treasury and 
 

 

		
		    
			 Global
			 Funding Operation of GE Capital
 

		
		  	
				  Facsimile:  
					 
 	
				  (203)
					 357-3490
 

 

		

		With a
		  copy to:

		
		   

		  
			 65
		  

		  

		  
 
		   
 

		 

		GE
		  Commercial Aviation Services Limited

		Aviation
		  House

		Shannon,
		  Co. Clare

		Ireland

		Attention:
		  Contracts Leader

		Facsimile:
		  +353 61-706867

		

		and, in
		  the case of any Purchaser, as follows:

		

		Genesis
		  Funding Limited

		
		  c/o
			 A&L Goodbody

		  25/28
			 North Wall Quay

		  Dublin
			 1

		  Ireland

		  Attention:
			 The Company Secretary

		  Facsimile:
			 [__________]

		  

		  or, as
			 to each party, at such other address as shall be designated by such party in a
			 written notice to each other party complying as to delivery with the terms of
			 this Section 14.5. Each such notice shall be effective (a) upon receipt when
			 sent through the mails, registered or certified mail, return receipt requested,
			 postage prepaid, with such receipt to be effective the date of delivery
			 indicated on the return receipt, or (b) one Business Day after delivery to an
			 overnight courier, or (c) on the date personally delivered to an authorized
			 officer of the party to which sent, or (d) on the date transmitted by legible
			 telecopier transmission with a confirmation of receipt.

		   

		  
			 	
					 14.6

					 	
					 (a)

					 	
					 THIS
						AGREEMENT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
						WITH, THE LAWS OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION,
						VALIDITY AND PERFORMANCE, BUT WITHOUT REGARD TO ANY CONFLICTS OF LAW PROVISION
						THEREOF (OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE
						OF NEW YORK). 
 

 

		   

		  
			 	 	
					 (b)

					 	
					 Each
						party hereto hereby submits to the nonexclusive jurisdiction of the United
						States District Court for the Southern District of New York and of any New York
						State court sitting in New York County for the purposes of all legal
						proceedings arising out of or relating to this agreement and each other
						operative document or the transactions contemplated hereby or thereby. GECC and
						each other Seller irrevocably waives, to the fullest extent permitted by law,
						any objection which it may now or hereafter have to the laying of the venue of
						any such proceeding brought in such a court and any claim that any such
						proceeding brought in such a court has been brought in an inconvenient forum.
						Each of GECC and each other Seller hereby irrevocably consents to the service
						of any and all process in any such action or proceeding by the mailing of
						copies to it as set forth in Section 14.5 or in any other manner permitted by
						Applicable Law.
 

 

		   

		  
			  

			 
				66
			 

			 

			 
 
			  
 

		   

		  
			 	 	
					 (c)

					 	
					 To the
						extent permitted by Applicable Law, each of the parties hereto hereby
						irrevocably waives the right to demand a trial by jury, in any such suit,
						action or other proceeding arising out of this Agreement, the other Operative
						Documents, or the subject matter hereof or thereof or the overall transaction
						brought by any of the parties hereto or their successors or
						assigns.
 

 

		   

		  
			 	
					 14.7

					 	
					 Nothing
						in Section 14.6 limits the right of Genesis Funding or any other Purchaser to
						bring proceedings against GECC or any other Seller in connection with this
						Agreement:
 

 

		   

		  
			 	 	
					 (i)

					 	
					 in any
						other court of competent jurisdiction; or
 

 

		   

		  
			 	 	
					 (ii)

					 	
					 concurrently
						in more than one jurisdiction.
 

 

		   

		  
			 	
					 14.8

					 	
					 Each
						party hereto will promptly and duly execute and deliver such further documents
						to make such further assurances for and take such further action reasonably
						requested by any party to whom such first party is obligated, all as may be
						reasonably necessary to carry out more effectively the intent and purpose of
						this Agreement and the other Operative Documents.
 

 

		   

		  
			 	
					 14.9

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

 

		   

		  
			 	
					 14.10

					 	
					 GECC,
						each Seller and each Purchaser agree to treat sale hereunder as occurring on
						the Delivery Date for U.S. and Irish tax purposes.
 

 

		   

		  
			 	
					 15.

					 	
					 SUBROGATION

					 

 

		   

		  
			 	
					 15.1

					 	
					 Upon the
						provision of substitute collateral by GECC or any other Seller pursuant to
						Section 7.4(b), and upon any claim being made against GECC or any other Seller
						for breach of any representation or warranty (other than a representation or
						warranty contained in Section 8.1), GECC or such other Seller, as the case may
						be, shall be subrogated to all rights, remedies and claims of Genesis Funding
						and each other Purchaser against the Lessee or any Affiliate of the Lessee
						under the applicable Novated Lease or Assigned Lease, the Operative Documents,
						the Lease Documents and otherwise, with respect to such provision of substitute
						collateral or such claim, and Genesis Funding shall cooperate, and shall cause
						each other Purchaser of any Asset to cooperate, in taking such action as GECC
						or such other Seller may reasonably request in connection with exercising any
						such right, remedy or claim (and the reasonable costs and expenses thereof
						shall be paid by GECC).
 

 

		   

		  
			 	
					 16.

					 	
					 LIMITED
						RECOURSE
 

 

		   

		  
			 	
					 16.1

					 	
					 In the
						event that the direct or indirect assets of Genesis Funding and its
						Subsidiaries are insufficient, after payment of all other claims, if any,
						ranking in priority to the claims of any Seller hereunder pursuant to the
						Indenture, to pay in full such claims of such Seller, 
 

 

		   

		  
			 
				67
			 

			 

			 
 
			  
 

		  
			 then
				such Seller shall have no further claim against Genesis Funding and its
				Subsidiaries in respect of any such unpaid amounts.
 

		   

		  
			 	
					 16.2

					 	
					 To the
						extent permitted by applicable law, no recourse under any obligation, covenant
						or agreement of any party contained in this Agreement shall be had against any
						shareholder (not including Genesis Funding as a shareholder of any other
						Purchaser hereunder), officer or director of the relevant party as such, by the
						enforcement of any assessment or by any proceeding, by virtue of any statute or
						otherwise; it being expressly agreed and understood that this Agreement is a
						corporate obligation of the relevant party and no personal liability shall
						attach to or be incurred by the shareholders (not including Genesis Funding as
						a shareholder of any other Purchaser hereunder), officers or directors of the
						relevant party as such, or any of them under or by reason of any of the
						obligations, covenants or agreements of such relevant party contained in this
						Agreement, or implied therefrom, and that any and all personal liability for
						breaches by such party of any of such obligations, covenants or agreements,
						either at law or by statute or constitution, of every such shareholder (not
						including Genesis Funding as a shareholder of any other Purchaser hereunder),
						officer or director is hereby expressly waived by the other parties as a
						condition of and consideration for the execution of this
						Agreement.
 

 

		   

		  
			 
				68
			 

			 

			 
 
			  
 

		  IN
			 WITNESS WHEREOF, the parties hereto have entered into this Asset Purchase
			 Agreement the day and year first above written.

		   

		  
			 	 	 	 
	 	
					 GENERAL
						ELECTRIC CAPITAL
						CORPORATION

					 
	 
 	 
 	 
 
	 	By  	 
	 	
					 

					 Name:

					 
	 	
					 Title:

					 

 

		   

		  
			 
					 	 	 
	 	
						
						  GENESIS
							 FUNDING LIMITED
 
 
	 
 	 
 	 
 
	 	By  	 
	 	
						

						Name:

						
	 	
						Title:

						

 

			  

			 
				
				   
				

				

				
 
				 
 

			 
				
				  
					 	 	 	 
	 	
							 
								
								  [OTHER
									 SELLERS]
 
 
 
	 
 	 
 	 
 
	 	By  	 
	 	
							 

							 Name:

							 
	 	
							 Title:

							 

 
 
 

			  

			  

				
 
				 
 

			 EXHIBIT
				A-1

			 

			 FORM OF
				ASSIGNMENT OF BENEFICIAL INTEREST2 

			 

			 The
				undersigned, [BI SELLER] (the “Seller”),
				as [record and beneficial owner of the [beneficial interest in the Trust Estate
				under and as defined in the Trust Agreement [MSN__] (the “Trust
				Agreement”)
				dated as of [__________]] (the “Beneficial
				Interest”)
				in [Name] (the “Entity”),
				hereby sells, assigns, conveys, transfers and sets over to Genesis Funding
				Limited, a [Bermuda exempted company] (the “Purchaser”),
				all of the Seller’s right, title and interest in and to the Beneficial
				Interest, including, without limitation, the Trust Estate (as defined in the
				Trust Agreement), other than the Retained Rights (as such term is defined in
				that certain Asset Purchase Agreement dated as of [__________], 2006 (the
				“Purchase
				Agreement”)
				among the parties hereto and others). The Seller hereby warrants to the
				Purchaser, its successors and assigns, that (i) there is hereby irrevocably
				conveyed to the Purchaser full legal and, subject to the Trust Agreement,
				beneficial title to the Beneficial Interest, free and clear of all Encumbrances
				(other than Permitted Encumbrances) and (ii) the Entity holds full legal and
				beneficial title to each of the Aircraft listed in Schedule I hereto exclusive
				of Lessee Furnished Equipment (the “BI
				Aircraft”)
				free and clear of all Encumbrances (other than Permitted Encumbrances). The
				Seller agrees with the Purchaser, and its successors and assigns, that the
				Seller will warrant and defend such title to the Entity and such title of the
				Entity in each BI Aircraft forever against all such claims and demands
				whatsoever (other than Permitted Encumbrances). This Assignment of Beneficial
				Interest is being made and entered into pursuant to the Purchase Agreement and
				shall be governed by and construed in accordance with the laws of the State of
				New York. Except as otherwise provided in the Purchase Agreement, the
				Beneficial Interest (and the Entity’s interest in each BI Aircraft) is
				sold “AS IS” and “WHERE IS”. Capitalized terms used herein
				and not otherwise defined shall have the meanings attributed thereto in the
				Purchase Agreement.

			  

			 
					 	 	 
	 	
						[BENEFICIAL
						  INTEREST SELLER]
 
	 
 	 
 	 
 
	 	By:  	 
	 	
						

						Name:

						
	 	
						Title:

						

 

			  

			 The
				above and foregoing Assignment of Beneficial Interest is hereby accepted and
				agreed to this ___ day of [________], 2006.

			  

			 
					 	 	 
	 	
						
						  GENESIS
							 FUNDING LIMITED
 
 
	 
 	 
 	 
 
	 	By:  	 
	 	
						

						Name:

						
	 	
						Title:

						

 

			  

			 
				
				  

				  

				
				  
					 	2	
							 To be
								used for all entities other than Owner Trusts and Irish companies.

							 

 
 
 

			  

			  

				
 
				 
 

			 EXHIBIT
				A-2

			  

			 FORM OF
				TRUST ASSIGNMENT AND ASSUMPTION
				AGREEMENT (MSN[   ])3 

			 

			 THIS
				TRUST ASSIGNMENT AND ASSUMPTION AGREEMENT (MSN [_]) (this “Assignment”)
				is dated as of [__________] by and between [BI SELLER] (“Assignor”),
				and GENESIS FUNDING LIMITED, a [Bermuda exempted company] (“Assignee”).

			 

			 WITNESSETH
				:

			  

			 WHEREAS,
				Assignor and Wells
				Fargo Bank Northwest, National Association, in its individual
				capacity has
				entered into the trust agreement, dated as of [__________] (as assigned,
				amended and restated to date, the “Trust
				Agreement”)
				Except as otherwise defined herein, capitalized terms used herein shall have
				the meanings set forth in the Trust Agreement; 

			 

			 WHEREAS,
				Assignor desires to assign all of its rights, obligations and ownership in and
				to the Trust to Assignee; and

			 

			 WHEREAS,
				Assignee desires to accepts all of Assignor’s rights, obligations and
				ownership in and to the Trust.

			 

			 NOW,
				THEREFORE, the undersigned, in consideration of the premises, the payment of
				Ten Dollars ($10.00) and the covenants and agreements contained herein, do
				hereby agree as follows:

			 

			 1. Assignment.
				Assignor
				does hereby sell, convey, assign, transfer and set over unto Assignee, as of
				the date hereof, all of its present and future right, title and interest in, to
				and under the following (collectively, the “Assigned
				Rights”):
				(i) the Trust, (ii) the Trust Estate, and (iii) the Trust Agreement
				and the Trust Documents described in the Trust Agreement, as “Owner
				Participant” thereunder (together with the Trust Documents collectively,
				the “Assigned
				Agreements”),
				and any proceeds therefrom. Assignor hereby transfers and delegates to Assignee
				all of Assignor’s obligations and liabilities as “Owner
				Participant” under the Assigned Agreements occurring from and after the
				date hereof (collectively, the “Assumed
				Obligations”).
				

			 

			 2. Assumption.
				Assignee hereby: (a) accepts the assignment, transfer, conveyance and
				delegation set forth in Section 1 hereof; (b) from and after the date
				hereof, assumes and undertakes all of the Assumed Obligations; and
				(c) confirms that it shall be deemed a party to the Trust Agreement and
				each other Assigned Agreement, and shall be bound by all of the terms of each
				Assigned Agreement as if named therein.

			 

			 3. Release
				of Assignor. From
				and after the date hereof, Assignor shall be released from all of its duties,
				obligations and liabilities under the Trust Agreement and the other Assigned
				Documents.

			  
				
				  

				  
 

			 
				
				  	
						  3
 	
						  To be
							 used for Owner Trusts, except where a different form is called for by the Lease
							 Documents or has otherwise been proposed by the Lessee.
 

 
 

			  

			 
				
				  
				

				

				
 
				 
 

			 4. Other
				Actions.
				Assignee is concurrently entering into an amended and restated Trust
				Agreement.

			 

			 5. Amendment. The
				Trust Agreement is hereby amended to reflect the foregoing, and all references
				in the Trust Agreement to Assignor are hereby amended to refer to
				Assignee.

			 

			 6. Further
				Assurances.
				Assignor and Assignee each agree to execute and deliver such further documents,
				and to do such further things, as the other party may reasonably request, in
				order to more fully effect the transfer of the Assigned Rights pursuant to this
				Assignment.

			 

			 7. Binding
				Effect. This
				Assignment shall be binding upon, and shall inure to the benefit of, the
				parties hereto and their respective successors and assigns.

			 

			 8. Execution
				in Counterparts. This
				Assignment may be executed in counterparts, each of which shall be deemed an
				original, but all of which shall constitute one and the same
				instrument.

			 

			 9. Agreement
				in Effect. Except
				as hereby amended, the Trust Agreement shall remain in full force and
				effect.

			 

			 10. Governing
				Law.
				THIS
				ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
				THE STATE OF [NEW YORK].

			 

			 11.
				 Owner
				Trustee Authorization and Direction.
				Assignor and Assignee each authorizes and directs the Owner Trustee to execute
				and deliver this Assignment as provided below.

			 

			 SIGNATURE
				PAGE FOLLOWS

			  

			 
				
				  2
				

				

				
 
				 
 

			 
IN
				WITNESS WHEREOF, the parties hereto have caused this Assignment to be duly
				executed as of the day and year first above written.

			  

			 
					 	 	 
	 	
						GENESIS
						  FUNDING LIMITED
 
	 
 	 
 	 
 
	 	By  	 
	 	
						

						Name:

						
	
						 
 	
						Title:

						

 

			  

			 
					 	 	 
	 	
						
						  [BI
							 SELLER]

						  
 
	 
 	 
 	 
 
	 	By:  	 
	 	
						

						Name:

						
	
						 
 	
						Title:

						

 

			  

			 
				
				  3
				

				

				
 
				 
 
 

		   

		  
			 
					
						THE
						  UNDERSIGNED, WELLS FARGO BANK NORTHWEST, NATIONAL ASSOCIATION, hereby confirms
						  receipt of a copy of, and hereby acknowledges and consents to the assignment
						  and assumption pursuant to, the foregoing Trust Assignment and Assumption
						  Agreement:
 	 	 	 
	 	 	 	 
	
						WELLS
						  FARGO BANK NORTHWEST, NATIONAL ASSOCIATION, in its individual capacity and,
						  with respect to the Trust Agreement, as Owner Trustee under the Trust
						  Agreement
 	 	 	 
	 	 	 	 
	
						 By:

							 	 	
						 
 	 
	 	
						
						  

						  

						Name:

						Title:

							 	 	 

 
 

		   

		  
			  

			 
				
			 

			 

			 
 
			 
EXHIBIT
				A-3
 

		  

		  FORM OF
			 IRISH LAW SHARE TRANSFER FORM4 

		   

		  

			 
				

				
 

		  
			 
				
				  	
						  4
 	
						  To be
							 used for Irish companies.
 

 

				 

				
				   

				  
					 
				  

				  

				  
 
				   
 

				

				  
					 	
							 STOCK

							 	 	 
	
							 TRANSFER

							 	 	 
	
							 FORM
								
 	 	
							 (Above
								this line for Registrar’s use only)
 
	
							 SCHEDULE
								1
 	 	 	
							 Certificate
								lodged with the Register
 
	 	 	 	 
	 	 	
							 Consideration
								
 	
							 (For
								completion by the Registrar/Stock Exchange)
 
	 	 	 	 
	 	 	
							 Name of
								Undertaking
 	 
	 	 	 	 
	 	 	
							 Description
								of Security
 	
							 Ordinary
								Shares
 
	 	 	 	 
	 	 	
							 Number
								or amount of Shares, Stock or other security and, in figures column only,
								number and denomination of units, if any.
 	
							 Words

							  

							  
 	
							 Figures

							  
 
	 	 	
							 Name(s)
								of registered holder(s) should be given in full; the address should be given
								where there is only one holder.

							  

							 If the
								transfer is not made by the registered holder(s) insert also the name(s) and
								capacity (e.g., Executor(s) of the person(s) making the transfer.

							 	
							 In the
								name(s) of

							  
 
	 	 	 	 
	 	 	
							 I/We
								hereby transfer the above security out of the name(s) aforesaid to the
								person(s) named below or
								to the several persona named in Parts 2 of Brokers 

							 Transfer
								Forms relating to the above security:
 	 	
							 Stamp of
								Selling Broker(s) or, for transactions which are not stock exchange
								transactions of Agent(s), if any, acting for the Transferor(s).

							 
	 	 	
							  

							 Delete
								words in italics except for stock exchange transactions.
 	 	 
	 	 	 	 	 
	 	 	
							 Signature(s)
								of transferor(s)
 	 	 
	 	 	 	 	 
	 	 	
							 1.
								
 	 	 	 
	 	 	 	 	 
	 	 	
							 2.
								
 	 	 	 
	 	 	 	 	 
	 	 	
							 3.

							 	 	 	 
	 	 	 	 	 
	 	 	
							 4.
								
 	 	 	 
	 	 	
							 A body
								corporate should execute this Transfer under its common seal or otherwise in
								accordance with applicable statutory requirements.
 	 	
							 Date
								 
 	 
	 	 	 	 	 	 
	 	 	
							 Full
								name(s) and full postal address(es) (including County or, if applicable, Postal
								District number) of the person(s) to whom the security is
								transferred.
 	 
	 	 	 	 
	 	 	
							 Please
								state title, if any, or whether Mr., Mrs., or Miss.
 	 
	 	 	 	 
	 	 	
							 Please
								complete in type or in Block Capitals.
 	 
	 	 	 	 
	 	 	
							 I/We
								request that such entries be made in the register as are necessary to give
								effect to this transfer.
 
	 	 	 
	 	 	
							 Stamp of
								Buying Broker(s) (if any)
 	
							 Stamp or
								name and address of person lodging this form 

							 (if
								other than the Buying Broker(s))
 

 
 

				 

				
				   

				  
					 
				  

				  

				  
 
				   
 
 
 

		   

		  
			 (Endorsement
				for use only in Stock Exchange Transactions)

			 The
				security represented by the transfer overleaf has been sold as
				follows:-

			 

			 
					 	 	
						Shares/Stock

							 	 	
						Shares/Stock

						
	 	 	
						Shares/Stock

							 	 	
						Shares/Stock

						
	 	 	
						Shares/Stock

							 	 	
						Shares/Stock

						
	 	 	
						Shares/Stock

							 	 	
						Shares/Stock

						
	 	 	 	 	 	 
	
						Balance
						  (if any) due to Selling Broker(s)
 	 	 	 	 	 
	 	 	 	 	 	 
	
						Amount
						  of Certificate(s)
 	 	 	 	 	 
	
						Brokers
						  Transfer Forms for above amounts certified
 	 	 	 
	 	 	 	 
	
						Stamp
						  of Certifying Stock Exchange
 	
						Stamp
						  of Selling Broker(s)
 	 	 

 

			 

			 FORM
				OF CERTIFICATE REQUIRED WHERE TRANSFER IS NOT
				LIABLE
				TO AD
				VALOREM
				STAMP DUTY

			 I/We
				hereby certify that the transaction in respect of which this transfer is made,
				and under which the fixed Duty of ten punts is payable, falls within the
				following description:-

			 

			 
					 	(a)	
						Vesting
						  the property in trustees on the appointment of a new Trustee of a pre-existing
						  Trust, or on the retirement of a Trustee;
 

 

			 
					(*)	(b)	
						A
						  transfer, where no beneficial interest in the property passes, (i) to a mere
						  nominee of the Transferor, (ii) from a mere nominee of the Transferee, (iii)
						  from one nominee to another nominee of the same beneficial owner.

						

 

			 
					(*)	(c)	
						A
						  transfer by way of security for a loan; or re-transfer to the original
						  Transferor on repayment of a loan.
 

 

			 
					 	(d)	
						
						  A
							 transfer to a residuary legatee of Shares, etc., which forms part of the
							 residue divisible under a Will.
 
 

 

			 
					 	(e)	
						
						  A
							 transfer to a beneficiary under a Will of a specific
							 legacy of
							 Shares, etc.
 
 

 

			 
					 	(f)	
						
						  A
							 transfer of Shares, etc., being the property of a person dying intestate, to
							 the person or persons entitled thereto.
 
 

 

			 
					 	(g)	
						
						  A
							 transfer to a beneficiary under a settlement on distribution of the trust
							 funds, of Shares, etc., forming the share, or part of the share of those funds
							 to which the beneficiary is entitled in accordance with the terms of the
							 settlement.
 
 

 

			 
					 	(h)	
						
						  A
							 transfer on the occasion of a marriage to trustees of the shares, etc., to be
							 held on the terms of a settlement made in consideration of
							 marriage.
 
 

 

			 
					 	(i)	
						
						  A
							 transfer by the liquidator of a Company of Shares, etc., forming part of the
							 assets of the Company, to which the Transferee is entitled in satisfaction or
							 part satisfaction of his rights as a Shareholder of the Company.

						  
 

 

			  

			 
					
						Here set
						  out concisely the facts, explaining the transaction in cases falling within (b)
						  and (c) or in any case which does not clearly fall within any one of the
						  clauses (a) to (g). Adjudication in any case may be required.

							
						
						  

						  

						  

						

						

						to 
						  
						  
Date 
						  
						  

						  
 

 

			  

			 
					 	
						{

							 	       	
						{

							 
	*Transferors	
						

							   *Transferees	
						

						
	 	
						

							 	
						

						
	 	
						

							 	
						

						
	 	
						

							 	
						

						
	 	 	 	 	 	Signature
						
						

						
	 	 	 	 	 	Description
						

						

 

			  

			 
					
						*

							
						Note:-
						  The above Certificate must be signed in the case of (b) and (c), either by (1)
						  all the transferors and the transferees, or (2) a member of a Stock Exchange or
						  a Solicitor acting for one or other of the parties, or (3) an accredited
						  representative of a Bank. Where the Bank or its official nominee is a party to
						  the transfer, the Certificate may be to the effect that “the transfer is
						  excepted from Section 74 of the Finance (1909-10) Act, 1910.” The above
						  Certificate in other cases should be signed by a Solicitor or other person
						  (e.g. a Bank acting as Trustee or Executor) having a full knowledge of the
						  facts.
 

 

			  

			 
				 

				
				  2
				

				

				
 
				 
 
 

		   

		  EXHIBIT
			 B

		   

		  FORM
			 OF BILL OF SALE

		   

		  For
			 valuable consideration, the receipt and sufficiency of which is hereby
			 acknowledged, [_______________], a corporation organized and existing under the
			 laws of [_______________] and having its registered office at [_______________]
			 (the “Seller”),
			 owner of the full legal and beneficial title (subject to the Aircraft Lease
			 Agreement referred to below) to the aircraft, engines, equipment and documents
			 described below (hereinafter referred to as the “Aircraft”):

		   

		  
			 	
					 1.

					 	
					 one (1)
						[_______________] aircraft bearing manufacturer’s serial no.
						[_______________] and registration mark [_______________]; and

					 

 

		   

		  
			 	
					 2.

					 	
					 [_______________]
						[_______________] engines bearing the following manufacturer’s serial
						nos.: [_______________], [_______________], [_______________];

					 

 

		   

		  
			 	
					 3.

					 	
					 all
						equipment, accessories and parts belonging to, installed in or appurtenant to
						such Aircraft or Engines to the extent title thereto has been vested in the
						Seller under the Aircraft Lease Agreement referred to below; and

					 

 

		   

		  
			 	
					 4.

					 	
					 all
						Aircraft Documents relating to the Aircraft and such Engines;

					 

 

		   

		  but for
			 the avoidance of doubt excluding Lessee Furnished Equipment;

		   

		  does
			 hereby sell, grant, transfer and deliver all its right, title and interest in
			 and to the Aircraft (subject to the Aircraft Lease Agreement dated as of
			 [_______________], between [_______________] and [______________]) unto
			 [_______________] (the “Purchaser”)
			 and its successors and assigns, to have and to hold the Aircraft
			 forever.

		   

		  The
			 Seller hereby warrants to the Purchaser, its successors and assigns, that there
			 is hereby conveyed the full legal and, subject to the Formation Agreement,
			 beneficial title to the Aircraft, free and clear of all Encumbrances (other
			 than Permitted Encumbrances). The Seller agrees with the Purchaser, and its
			 successors and assigns, that the Seller will warrant and defend such title
			 forever against all claims and demands (other than Permitted Encumbrances)
			 whatsoever. Except as otherwise provided herein or in the Asset Purchase
			 Agreement, the Aircraft is sold “AS IS” and “WHERE
			 IS.”

		   

		  This
			 Bill of Sale shall be governed by and construed in accordance with the laws of
			 the State of New York. Capitalized terms used but not otherwise defined herein
			 shall have the same meanings as used in the Asset Purchase
			 Agreement.

		   

		  
			  

			 
				
			 

			 

			 
 
			  
 

		   

		  IN
			 WITNESS WHEREOF, the Seller has caused this Bill of Sale to be duly executed as
			 of this [__] day of [__________], 2006.

		  

			 
					 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 	
						By 

							 
	 	 	 	 	 	
						Name:

						Title:

						

 

			  

			 
					
						The
						  representation, warranties, and covenants
						  of the above named Seller under
						  this Bill of Sale are hereby irrevocably
						  and unconditionally guaranteed
						  and confirmed:
 	 	 
	 	 	 
	
						GENERAL
						  ELECTRIC CAPITAL CORPORATION

							 	 
	
						 

						By 

							 	 	 	 
	 	
						Name: 

							 	 	 
	 	
						Title: 

							 	 	 

 
 

		   

		  
			  

			 
				2
			 

			 

			 
 
			  
 

		   

		  EXHIBIT
			 C

		   

		   

		  FORM
			 OF ACKNOWLEDGEMENT OF DELIVERY

		   

		  This
			 Acknowledgement of Delivery is given in connection with the Asset Purchase
			 Agreement as amended, modified or otherwise supplemented (the
			 “Agreement”)
			 dated as of [________] __, 2006 among, inter alia, [_______________], a
			 corporation organized and existing under the laws of [_______________] and
			 having its registered office at [_______________] (the “Seller”),
			 [______________], a [company/trust] duly established and existing pursuant to
			 the laws of [_______________] and having its principal place of business at
			 _______________ (the “Purchaser”)
			 and the other parties thereto.

		   

		  The
			 Seller hereby acknowledges to the Purchaser that the full legal and beneficial
			 title (subject to the Aircraft Lease Agreement referred to below) to the
			 aircraft, engines, equipment and documents described below (hereinafter
			 referred to as the “Aircraft”):

		   

		  
			 	
					 1.

					 	
					 one (1)
						[_______________] aircraft bearing manufacturer’s serial no.
						[_______________] and registration mark [_______________]; and

					 

 

		   

		  
			 	
					 2.

					 	
					 [_______________]
						[_______________] engines bearing the following manufacturer’s serial
						nos.: [_______________], [_______________], [_______________];

					 

 

		   

		  
			 	
					 3.

					 	
					 all
						equipment, accessories and parts belonging to, installed in or appurtenant to
						such Aircraft or Engines to the extent title thereto has been vested in the
						Seller in under the Aircraft Lease Agreement referred to below;
						and
 

 

		   

		  
			 	
					 4.

					 	
					 all
						Aircraft Documents relating to the Aircraft and such Engines;

					 

 

		   

		  but for
			 the avoidance of doubt excluding Lessee Furnished Equipment;

		   

		  has
			 passed by physical delivery from the Seller to the Purchaser in accordance with
			 the terms of the Agreement (subject to the Aircraft Lease Agreement dated as of
			 [_______________], between [_______________] and
			 [_______________]).

		   

		  The
			 Seller hereby warrants to the Purchaser, its successors and assigns, that there
			 was conveyed to the Purchaser full legal and, subject to the Formation
			 Agreement, beneficial title to the Aircraft, free and clear of all Encumbrances
			 (other than Permitted Encumbrances). The Seller agrees with the Purchaser, and
			 its successors and assigns, that the Seller will warrant and defend such title
			 forever against all claims and demands whatsoever (other than Permitted
			 Encumbrances). Except as otherwise provided herein and in the Agreement, the
			 Aircraft was sold “AS IS” and “WHERE IS”. 

		   

		  This
			 Acknowledgement of Delivery shall be governed by and construed in accordance
			 with the laws of the State of New York. Capitalized terms used but not
			 otherwise defined herein shall have the same meanings as used in the
			 Agreement.

		   

		  
			  

			 
				
			 

			 

			 
 
			  
 

		   

		  IN
			 WITNESS WHEREOF, the Seller has caused this Acknowledgement of Delivery to be
			 duly executed as of this [__] day of [__________], 2006.

		  

			 
					 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 	
						By 

							 
	 	 	 	 	 	
						Name:

						Title:

						

 
 

		   

		  
			 
					
						The
						  representation, warranties, and covenants
						  of the above named Seller

						under
						  this Acknowledgement of Delivery
						  are hereby irrevocably and 

						unconditionally
						  guaranteed and confirmed:

							 	 
	 	 	 
	
						GENERAL
						  ELECTRIC CAPITAL CORPORATION

							 	 
	
						 

						By 

							 	 	 	 
	 	
						Name: 

							 	 	 
	 	
						Title: 

							 	 	 

 
 

		   

		  
			 2
		  

		  

		  
 
		   
 
 

	 EXHIBIT
		D

	 

	 FORM
		OF GUARANTY

	 

	 GUARANTY
		(the “Guaranty”) dated as of [__________], 2006 of General Electric
		Capital Corporation, a Delaware corporation (“GECC”) in favor of
		Genesis Funding Limited (“Genesis Funding”).

	 

	 Reference
		is made to that certain Asset Purchase Agreement dated as of [__________], 2006
		(the “Asset Purchase Agreement”) among GECC, the other Sellers named
		therein and Genesis Funding and the other Purchasers. All capitalized terms
		used but not otherwise defined herein shall have the respective meanings
		assigned to such terms in the Asset Purchase Agreement. To induce the
		Purchasers to acquire the Aircraft or the Beneficial Interest in a Genesis
		Funding Entity under the Asset Purchase Agreement and to pay the purchase price
		thereof on the AP Closing Date in advance of the Delivery of the Aircraft or
		the Beneficial Interest in a Genesis Funding Entity and to otherwise perform
		their respective obligations thereunder, and for other good and valuable
		consideration, the receipt and sufficiency of which is hereby acknowledged,
		GECC is willing to execute and deliver this Guaranty to the Purchasers and
		accordingly GECC does hereby agree as follows:

	 

	 Section
		1. Guaranty
		by GECC. (a)
		From and after the date hereof, GECC hereby irrevocably and unconditionally
		guarantees to the Purchasers the payment and performance in full when due of
		each of the obligations of each of the Sellers under the Asset Purchase
		Agreement and each Assignment of Beneficial Interest, Bill of Sale,
		Acknowledgment of Delivery, Lease Novation and/or Assignment of Lease delivered
		pursuant thereto (collectively, the “Guaranteed Obligations”), in
		each case after any applicable grace periods or notice requirements, according
		to the terms of the Asset Purchase Agreement; provided,
		however, that
		with respect to any payment obligation of any Seller thereunder, GECC shall not
		be liable to make any such payment until 15 Business Days (as used herein, a
		“Business Day” shall refer to a day other than a Saturday or a Sunday
		on which commercial banks are open for business in New York City) following
		receipt by GECC of a written demand for payment from Genesis Funding. GECC
		hereby agrees that its obligations hereunder shall be absolute and
		unconditional, irrespective of (i) the validity, regularity or enforceability
		of the Asset Purchase Agreement, any other Operative Document or any other
		agreement or instrument referred to herein or therein, any change therein or
		amendment thereto, the absence of any action to enforce the same, any waiver or
		consent by the Purchasers with respect to any provision thereof, the recovery
		of any judgment against any of the Sellers or any action to enforce the same,
		or any other circumstances which may otherwise constitute a legal or equitable
		discharge or defense of a surety or guarantor and (ii) any difference between
		the law selected as the governing law of the Asset Purchase Agreement or the
		other Operative Documents and the law selected as the governing law of this
		Guaranty; provided,
		however, that
		nothing contained herein shall be construed to be a waiver by GECC of the
		foregoing demand for payment. GECC covenants that this Guaranty will not be
		discharged except by complete and final performance of the Guaranteed
		Obligations.

	  

	 
		 

		
		  
		

		

		
 
		 
 

	  

	 (b) GECC
		shall be subrogated to all rights of the Purchasers in respect of any amounts
		paid by GECC pursuant to the provisions of this Guaranty; provided, however,
		that GECC shall be entitled to enforce, or to receive any payments arising out
		of or based upon, such right of subrogation only after all of the Guaranteed
		Obligations have been finally paid in full.

	 

	 (c) This
		Guaranty is a guaranty of payment and not of collection only.

	 

	 (d) This
		Guaranty shall continue to be effective or be reinstated, as the case may be,
		if at any time any payment of any of the Guaranteed Obligations is rescinded or
		must otherwise be returned by any Purchaser upon the insolvency, bankruptcy or
		reorganization of any Seller or otherwise, all as though such payment had not
		been made.

	 

	 Section
		2.1. Notices. All
		notices to GECC under this Guaranty and copies of all notices to the Sellers
		under the Asset Purchase Agreement shall, until GECC furnishes written notice
		to the contrary, be in writing and mailed, faxed or delivered to GECC at 201
		High Ridge Road, Stamford, Connecticut 06927-9448, and directed to the
		attention of the Senior Vice President-Corporate Treasury and Global Funding
		Operation of GE Capital (facsimile no. (203) 357-4975).

	 

	 Section
		2.2. Governing
		Law. This
		Guaranty shall be construed and enforced in accordance with, and governed by,
		the laws of the State of New York, United States of America.

	 

	 Section
		2.3. Interpretation. The
		headings of the sections and other subdivisions of this Guaranty are inserted
		for convenience only and shall not be deemed to constitute a part
		hereof.

	 

	 Section
		2.4. Attorney’s
		Cost. GECC
		agrees to pay all reasonable attorney’s fees and disbursements and all
		other reasonable and actual costs and expenses which may be incurred by the
		Purchasers in the enforcement of this Guaranty.

	 

	 Section
		2.5 Currency
		of Payment. Any
		payment to be made by GECC shall be made in the same currency as designated for
		payment in the Asset Purchase Agreement and such designation of the currency of
		payment is of the essence.

	  

	 
		 

		
		  2
		

		

		
 
		 
 

	  

	 Section
		2.6 No
		Set-Off. By
		acceptance of this Guaranty, Genesis Funding and each of the other Purchasers
		shall be deemed to have waived any right to set-off, combine, consolidate or
		otherwise appropriate and apply (i) any assets of GE Capital at any time held
		by any Purchaser or (ii) any indebtedness or other liabilities at any time
		owing by any Purchaser to GECC, as the case may be, against, or on account of,
		any obligations or liabilities owed by GECC to the Purchasers under this
		Guaranty.

	  

	 

		
		  	 	 	 	
				  GENERAL
					 ELECTRIC CAPITAL CORPORATION

				  
	 	 	 	 	 	 
	 	 	 	 	
				   

				  By:

				  	 
	 	 	 	 	
				  Senior
					 Vice President

				  Corporate
					 Treasury and

				  Global
					 Funding Operation
 

 
 

	  

	 ACKNOWLEDGMENT
		AND AGREEMENT

	  

	 Genesis
		Funding Limited for and on behalf of itself and each of the Purchasers does
		hereby acknowledge and consent to the provisions of the foregoing
		Guaranty.

	 

		
		  	 	 	 	
				  GENESIS
					 FUNDING LIMITED
 
	 	 	 	 	
				   

				  By: 

				  	 
	 	 	 	 	
				  Title: 

				  	 
	 	 	 	 	
				  
					 Name: 

					 
 	 

 
 

	 
		 

		
		  3
		

		

		
 
		 
 

	 EXHIBIT
		E-1

	  

	 CONDITIONS
		PRECEDENT – AIRCRAFT
		DELIVERY (BI AIRCRAFT)

	  

	 With
		respect to the Delivery of each BI Aircraft to Genesis Funding on the relevant
		Delivery Date:

	  

	  

	 
			 	
				(a)

					
				the
				  relevant Operative Documents for such Aircraft, as the case may be, have been
				  entered into by the parties thereto;
 

 

	  

	 
			 	
				(b)

					
				receipt
				  of the following documents by such Purchaser:
 

 

	  

	 
			 	
				(i)

					
				a copy
				  of the constitutional documents of such Seller and any other Affiliate of such
				  Seller which is a party to any Operative Document in respect of such Aircraft,
				  certified as of such Delivery Date to be a true, complete and up-to-date copy
				  of the constitutional documents of such Seller, or if a certified copy of such
				  documents has previously been delivered to such Purchaser hereunder, a
				  certificate dated such Delivery Date confirming no changes to such documents;
				  and
 

 

	  

	 
			 	
				(ii)

					
				a copy
				  of resolutions of the Board of Directors (or duly authorized committee thereof)
				  of such Seller:
 

 

	 

	 
			 	
				(A)

					
				approving
				  the transactions contemplated by the Operative Documents to which such Seller
				  is a party; and
 

 

	 

	 
			 	
				(B)

					
				authorizing
				  a Person or Persons to sign and deliver on behalf of such Seller or, as the
				  case may be, authorizing the execution by the relevant Person of the Operative
				  Documents to which it is a party and any notices or other documents to be given
				  pursuant hereto or thereto,
 

 

	 

	 certified
		as of such Delivery Date to be a true copy of such resolutions and as being in
		full force in effect and not amended or rescinded or, if a certified copy of
		such resolutions has previously been delivered to such Purchaser hereunder, a
		certificate dated such Delivery Date confirming no changes to such
		resolutions;

	  

	 
			 	
				(c)

					
				no Event
				  of Loss shall have occurred or unrepaired Material Damage shall be in existence
				  with respect to such Aircraft; and
 

 

	  

	 
			 	
				(d)

					
				delivery
				  of the following documents:
 

 

	  

	 
		 

		
		   
		

		

		
 
		 
 

	  

	 
			 	
				(i)

					
				copies
				  of all notices, consents or acknowledgements of such Seller or the applicable
				  Lessee as are required under the terms of the Operative Documents;

				

 

	  

	 
			 	
				(ii)

					
				the
				  documents or satisfaction of the conditions listed in Schedule 3 relevant to
				  such Aircraft;
 

 

	  

	 
			 	
				(iii)

					
				a copy
				  of the currently valid Certificate of Registration for such Aircraft, issued by
				  the appropriate Air Authority; and
 

 

	  

	 
			 	
				(iv)

					
				if
				  applicable, a copy of the Assignment of Warranties with respect to such
				  Aircraft executed by each of the parties thereto (provided that such Assignment
				  of Warranties may be delivered as soon as reasonably practicable after the
				  relevant BI Transfer Date).
 

 

	 
		 

		
		   

		  
			 2
		  

		  

		  
 
		   
 
 

	 
EXHIBIT
		E-2

	  

	 CONDITIONS
		PRECEDENT – AIRCRAFT DELIVERY (INDEPENDENT AIRCRAFT)

	  

	 With
		respect to the Delivery of each Independent Aircraft to Genesis Funding or a
		Subsidiary of Genesis Funding:

	  

	 
			 	
				(a)

					
				the
				  relevant Operative Documents for such Aircraft, as the case may be, have been
				  entered into by the parties thereto (other than Genesis Funding or any
				  Affiliate thereof);
 

 

	  

	 
			 	
				(b)

					
				Genesis
				  Funding shall have received payment in full of any Security Deposit and the
				  relevant amount of Additional Rent with respect to such Aircraft;

				

 

	  

	 
			 	
				(c)

					
				the
				  relevant Purchaser shall have received a certification dated such Delivery Date
				  from GECC and such Seller to the effect that (i) the representations and
				  warranties of GECC and such Seller set forth herein are true and correct as of
				  such Delivery Date and (ii) the Seller has full legal title to such Aircraft,
				  free from Encumbrances other than Permitted Encumbrances;
 

 

	  

	 
			 	
				(d)

					
				unless
				  and to the extent Genesis Funding shall otherwise agree, or a Rating Agency
				  Confirmation and the prior written consent of the Policy Provider shall have
				  been obtained with respect thereto, all the conditions precedent to the
				  effectiveness of the Assignment of Lease or Lease Novation, as applicable, for
				  such Aircraft shall have been satisfied and Genesis Funding shall have received
				  a certification from GECC and such Seller to such effect;
 

 

	  

	 
			 	
				(e)

					
				receipt
				  of the following documents by such Purchaser:
 

 

	  

	 
			 	
				(i)

					
				a copy
				  of the constitutional documents of such Seller and any other Affiliate of such
				  Seller which is a party to any Operative Document in respect of such Aircraft,
				  certified as of such Delivery Date to be a true, complete and up-to-date copy
				  of the constitutional documents of such Seller, or if a certified copy of such
				  documents has previously been delivered to such Purchaser hereunder, a
				  certificate dated such Delivery Date confirming no changes to such documents;
				  and
 

 

	  

	 
			 	
				(ii)

					
				a copy
				  of resolutions of the Board of Directors (or duly authorized committee thereof)
				  of such Seller:
 

 

	 

	 
			 	
				(A)

					
				approving
				  the transactions contemplated by this Agreement and the other Operative
				  Documents to which such Seller is a party; and
 

 

	  

	 
		 

		
		  
		

		

		
 
		 
 

	  

	 
			 	
				(B)

					
				authorizing
				  a Person or Persons to sign and deliver on behalf of such Seller or, as the
				  case may be, authorizing the execution by the relevant Person of this Agreement
				  and the other Operative Documents to which it is a party and any notices or
				  other documents to be given pursuant hereto or thereto,
 

 

	 

	 certified
		as of such Delivery Date to be a true copy of such resolutions and as being in
		full force in effect and not amended or rescinded or, if a certified copy of
		such resolutions has previously been delivered to such Purchaser hereunder, a
		certificate dated such Delivery Date confirming no changes to such
		resolutions;

	  

	 
			 	
				(f)

					
				no Event
				  of Loss shall have occurred or unrepaired Material Damage shall be in existence
				  with respect to such Aircraft; 
 

 

	  

	 
			 	
				(g)

					
				delivery
				  of the following documents:
 

 

	  

	 
			 	
				(i)

					
				a
				  certificate of solvency dated as of such Delivery Date in the Agreed Form
				  relating to such Seller issued by a director or authorized officer thereof and
				  a certificate of solvency dated as of such Delivery Date in the Agreed Form
				  relating to GECC issued by a director or authorized officer of
				  GECC;
 

 

	  

	 
			 	
				(ii)

					
				a
				  favorable opinion of counsel to such Seller, dated as of the AP Closing Date,
				  reasonably acceptable to Genesis Funding in the Agreed Form, that the sale of
				  such Aircraft constitutes, or will constitute, a “true-sale” and a
				  valid transfer of title to such Aircraft and that after the Delivery of such
				  Aircraft such Seller retains, or will retain, no interest in such Aircraft and
				  as to such other matters as such Purchaser may reasonably request with regard
				  to the subject matter contemplated herein and a letter from counsel to such
				  Seller, dated as of such Delivery Date, confirming such opinion;

				

 

	  

	 
			 	
				(iii)

					
				copies
				  of all notices, consents or acknowledgements of such Seller or the applicable
				  Lessee as are required under the terms of the Operative Documents;

				

 

	  

	 
			 	
				(iv)

					
				the
				  documents or satisfaction of the conditions listed in Schedule 3 relevant to
				  such Aircraft; 
 

 

	  

	 
			 	
				(v)

					
				a copy
				  of the currently valid Certificate of Registration for such Aircraft, issued by
				  the appropriate Air Authority; and
 

 

	  

	 
			 	
				(vi)

					
				if
				  applicable, a copy of the Assignment of Warranties with respect to such
				  Aircraft executed by each of the parties thereto (other than Genesis Funding
				  Limited, the relevant Purchaser or any Affiliate of such Purchaser) (provided
				  that such Assignment of Warranties may be delivered as soon as reasonably
				  practicable after the relevant Delivery Date);
 

 

	  

	 
		 

		
		  2
		

		

		
 
		 
 

	  

	 
			 	
				(h)

					
				originals,
				  or certified copies, of certificates evidencing the insurance required to be
				  maintained pursuant to the relevant Assigned Lease or the Novated Lease, as
				  appropriate, for such Aircraft together, if applicable, with a letter or report
				  from an independent firm of insurance brokers in a form reasonably acceptable
				  to Genesis Funding; and 
 

 

	  

	 
			 	
				(i)

					
				the
				  report of Genesis Funding’s and/or such Purchaser’s insurance advisor
				  in substantially the Agreed Form.
 

 

	  

	 
		 

		
		  3
		

		

		
 
		 
 

	  

	 EXHIBIT
		F

	  

	 FORM
		OF SERVICING AGREEMENT

	  

	 
		 

		
		  4
		

		

		
 
		 
 

	  

	 EXHIBIT
		F

	  

	 FORM
		OF MANAGEMENT AGREEMENT

	  

	 
		 

		
		  5
		

		

		
 
		 
 

	 SCHEDULE
		1

	  

	 SELLERS
		AND RELATED AIRCRAFT

	  

	 
			
				Seller

					 	
				Asset
				  –
				  Beneficial Interest
 	 	
				Aircraft
				  MSN
 	 	
				Lessee

				
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

	  

	 
		 

		
		   
		

		

		
 
		 
 

	 SCHEDULE
		2

	  

	 AGGREGATE
		AIRCRAFT PURCHASE PRICE

	  

	  

	 The
		aggregate Aircraft Purchase Price for all of the Aircraft is $___________,
		which is an amount equal to the sum of:

	  

	 
			 	
				(a)

					
				the net
				  proceeds of $___________ from the issuance of the Class G-1 Notes, after
				  deducting the Initial Expenses and the Required Expense Amount for the initial
				  Interest Accrual Period, plus

				

 

	 

	 
			 	
				(b)

					
				the
				  Initial Equity Amount of $___________, consisting of the net proceeds (less
				  related expenses and retained cash) from the sale of shares of Genesis Lease
				  Limited, the holder of the Class A Shares, and based upon a price per share of
				  $____.
 

 

	  

	 AIRCRAFT
		INFORMATION

	  

	 [[                   
		] to provide information for each Schedule 2]

	  

	 Aircraft
		No. 1

	  

	 
			
				Aircraft:

					 
	
				Engines:

					 
	
				Lessee:

					 
	
				State of
				  Registration:
 	 
	
				Security
				  Deposit (specify whether

				cash,
				  letter of credit, guaranty or

				other
				  instrument):
 	 
	
				Delivery
				  Date (under Lease):
 	 
	
				Expiry
				  Date (of Lease):
 	 
	
				Aircraft
				  Purchase Price:
 	 
	
				Lease
				  Documents:
 	 

 

	  

	 
		 

		
		  
		

		

		
 
		 
 

	  

	 SCHEDULE
		3

	  

	 DOCUMENTS
		AND CONDITIONS – DELIVERY

	  

	 [[                         
		] to provide]

	  

	 
			
				1.

					
				 
 	
				Aircraft
				  No. 1; msn [______]

				

 

	 

	 All
		documents and conditions listed in Section __ of the Lease Novation for
		aircraft msn [______], except
		as listed in Schedule 4.

	  

	 
		 

		
		  
		

		

		
 
		 
 

	 

	 SCHEDULE
		4

	  

	 DOCUMENTS
		AND CONDITIONS – POST-DELIVERY

	  

	 The
		information set out in this Schedule 4 may be amended from time to time by a
		Disclosure Letter acceptable to the Purchaser.

	  

	 [[                    
		] to provide]

	  

	 
		 

		
		  
		

		

		
 
		 
 

	 

	 SCHEDULE
		5

	  

	 JURISDICTION
		OF INCORPORATION OR ORGANIZATION

	 

	 
			
				 

				Name of
				  Seller
 	 	
				Jurisdiction
				  of

				Incorporation
				  or Organization
 
	 	 	 
	
				General
				  Electric Capital Corporation
 	 	
				Delaware

				

 

	  

	 
		 

		
		  
		

		

		
 
		 
 

	 SCHEDULE
		6

	  

	 GENESIS
		FUNDING ENTITIES

	  

	 Genesis
		Funding Non-Corporate Entities

	  

	 Genesis
		Funding Corporate Entities

	  

	 
		 

		
		  
		

		

		
 
		 
 

	 SCHEDULE
		7

	  

	 DEBT
		ALLOCATION AMOUNTS AND EQUITY ALLOCATION AMOUNTSMASTER
		  SERVICING AGREEMENT

		 

		between

		 

		GE
		  COMMERCIAL AVIATION SERVICES LIMITED

		 

		and

		 

		GENESIS
		  LEASE LIMITED

		 

		
		  
 

		
		   
		

		
		  
		

		

		
 

		 

		
		  	
				  ARTICLE
					 I
 	
				  DEFINITIONS

				  	
				  1

				  
	
				  Section
					 1.01.
 	
				  Definitions

				  	
				  1

				  
	
				  Section
					 1.02.
 	
				  Construction
					 and Usage
 	
				  1

				  
	 	 	 
	
				  ARTICLE
					 II
 	
				  APPOINTMENT;
					 SERVICES
 	
				  1

				  
	
				  Section
					 2.01.
 	
				  Appointment

				  	
				  1

				  
	
				  Section
					 2.02.
 	
				  Aircraft
					 Asset Services
 	
				  3

				  
	
				  Section
					 2.03.
 	
				  Offerings

				  	
				  6

				  
	
				  Section
					 2.04.
 	
				  Compliance
					 with Applicable Laws and GE Policies
 	
				  10

				  
	
				  Section
					 2.05.
 	
				  Limitations

				  	
				  11

				  
	 	 	 
	
				  ARTICLE
					 III
 	
				  STANDARD
					 OF CARE; CONFLICTS OF INTEREST; STANDARD OF LIABILITY
 	
				  12

				  
	
				  Section
					 3.01.
 	
				  Standard
					 of Care
 	
				  12

				  
	
				  Section
					 3.02.
 	
				  Conflicts
					 of Interest
 	
				  12

				  
	
				  Section
					 3.03.
 	
				  Standard
					 of Liability
 	
				  14

				  
	
				  Section
					 3.04.
 	
				  Waiver
					 of Implied Standard
 	
				  14

				  
	 	 	 
	
				  ARTICLE
					 IV
 	
				  REPRESENTATIONS
					 AND WARRANTIES
 	
				  15

				  
	
				  Section
					 4.01.
 	
				  Aircraft
					 Assets
 	
				  15

				  
	
				  Section
					 4.02.
 	
				  Aircraft
					 Assets Related Documents
 	
				  15

				  
	
				  Section
					 4.03.
 	
				  Accounts
					 and Cash Flow
 	
				  15

				  
	
				  Section
					 4.04.
 	
				  Organization
					 and Standing
 	
				  15

				  
	
				  Section
					 4.05.
 	
				  Authority

				  	
				  16

				  
	
				  Section
					 4.06.
 	
				  No
					 Conflicts
 	
				  16

				  
	
				  Section
					 4.07.
 	
				  Compliance
					 with Applicable Laws
 	
				  16

				  
	
				  Section
					 4.08.
 	
				  Litigation;
					 Decrees
 	
				  17

				  
	
				  Section
					 4.09.
 	
				  Appointments

				  	
				  17

				  
	
				  Section
					 4.10.
 	
				  Authority

				  	
				  17

				  
	
				  Section
					 4.11.
 	
				  No
					 Conflicts
 	
				  17

				  
	
				  Section
					 4.12.
 	
				  Compliance
					 with Applicable Laws of Ireland
 	
				  18

				  
	
				  Section
					 4.13.
 	
				  Litigation;
					 Decrees
 	
				  18

				  
	 	 	 
	
				  ARTICLE
					 V
 	
				  SERVICER
					 UNDERTAKINGS
 	
				  18

				  
	
				  Section
					 5.01.
 	
				  Access

				  	
				  18

				  
	
				  Section
					 5.02.
 	
				  Compliance
					 with Law
 	
				  18

				  
	
				  Section
					 5.03.
 	
				  Commingling

				  	
				  18

				  
	
				  Section
					 5.04.
 	
				  Restrictions
					 on Exercise of Certain Rights
 	
				  18

				  
	
				  Section
					 5.05.
 	
				  Coordination
					 with Genesis Group
 	
				  19

				  

 

		
		   

		  
			 i
		  

		  
			 
		  

		  

		  
 

		

		 

		
		  	
				  ARTICLE
					 VI
 	
				  UNDERTAKINGS
					 OF GENESIS
 	
				  19

				  
	
				  Section
					 6.01.
 	
				  Cooperation

				  	
				  19

				  
	
				  Section
					 6.02.
 	
				  No
					 Representation with Respect to Third Parties
 	
				  19

				  
	
				  Section
					 6.03.
 	
				  Related
					 Document Amendments
 	
				  19

				  
	
				  Section
					 6.04.
 	
				  Exclusivity

				  	
				  19

				  
	
				  Section
					 6.05.
 	
				  Communications

				  	
				  19

				  
	
				  Section
					 6.06.
 	
				  Ratification

				  	
				  20

				  
	
				  Section
					 6.07.
 	
				  Additional
					 Aircraft Assets
 	
				  20

				  
	
				  Section
					 6.08.
 	
				  Execution,
					 Amendment, Modification or Termination of Aircraft Assets Related
					 Documents
 	
				  20

				  
	
				  Section
					 6.09.
 	
				  Access
					 to Genesis Group Information
 	
				  21

				  
	
				  Section
					 6.10.
 	
				  Genesis
					 Group Accounts and Cash Arrangements
 	
				  21

				  
	
				  Section
					 6.11.
 	
				  [Intentionally
					 Left Blank]
 	
				  21

				  
	
				  Section
					 6.12.
 	
				  Further
					 Assurances
 	
				  21

				  
	
				  Section
					 6.13.
 	
				  Guarantees

				  	
				  21

				  
	
				  Section
					 6.14.
 	
				  Transfers
					 of Funds
 	
				  21

				  
	 	 	 
	
				  ARTICLE
					 VII
 	
				  GENESIS
					 GROUP RESPONSIBILITY
 	
				  22

				  
	
				  Section
					 7.01.
 	
				  Genesis
					 Group Responsibility
 	
				  22

				  
	
				  Section
					 7.02.
 	
				  Performance
					 with Respect to Aircraft Assets
 	
				  23

				  
	
				  Section
					 7.03.
 	
				  Lease
					 Operating Budget; Aircraft Asset Expenses Budget
 	
				  23

				  
	
				  Section
					 7.04.
 	
				  Transaction
					 Approval Requirements
 	
				  24

				  
	
				  Section
					 7.05.
 	
				  Approved
					 Budgets and Transaction Approval Requirements
 	
				  27

				  
	 	 	 
	
				  ARTICLE
					 VIII
 	
				  EFFECTIVENESS

				  	
				  27

				  
	
				  Section
					 8.01.
 	
				  Effectiveness

				  	
				  27

				  
	 	 	 
	
				  ARTICLE
					 IX
 	
				  SERVICING
					 FEES; EXPENSES; TAXES; PRIORITY OF SERVICING FEES
 	
				  27

				  
	
				  Section
					 9.01.
 	
				  Servicing
					 Fees
 	
				  27

				  
	
				  Section
					 9.02.
 	
				  Monthly
					 Base Fee
 	
				  27

				  
	
				  Section
					 9.03.
 	
				  Rent
					 Fees
 	
				  27

				  
	
				  Section
					 9.04.
 	
				  Sales
					 Fee
 	
				  28

				  
	
				  Section
					 9.05.
 	
				  [Intentionally
					 Left Blank]
 	
				  28

				  
	
				  Section
					 9.06.
 	
				  Expenses

				  	
				  29

				  
	
				  Section
					 9.07.
 	
				  Taxes

				  	
				  29

				  
	
				  Section
					 9.08.
 	
				  Priority
					 of Payments to Servicer
 	
				  32

				  

 

		
		   

		  
			 ii
		  

		  
			 
		  

		  

		  
 

		

		 

		
		  	
				  ARTICLE
					 X
 	
				  TERM;
					 RIGHT TO TERMINATE; RESIGNATION; CONSEQUENCES OF EXPIRATION, TERMINATION,
					 RESIGNATION OR REMOVAL; CERTAIN TAX MATTERS; SURVIVAL
 	
				  32

				  
	
				  Section
					 10.01.
 	
				  Term

				  	
				  32

				  
	
				  Section
					 10.02.
 	
				  Right to
					 Terminate
 	
				  32

				  
	
				  Section
					 10.03.
 	
				  Resignation
					 or Removal
 	
				  35

				  
	
				  Section
					 10.04.
 	
				  Consequences
					 of Expiration, Termination, Resignation or Removal
 	
				  36

				  
	
				  Section
					 10.05.
 	
				  Survival

				  	
				  37

				  
	 	 	 
	
				  ARTICLE
					 XI
 	
				  
					 INDEMNIFICATION

					 
 	
				  37

				  
	
				  Section
					 11.01.
 	
				  Indemnity

				  	
				  37

				  
	
				  Section
					 11.02.
 	
				  Procedures
					 for Defense of Claims
 	
				  38

				  
	
				  Section
					 11.03.
 	
				  Reimbursement
					 of Costs
 	
				  39

				  
	
				  Section
					 11.04.
 	
				  Waiver
					 of Certain Claims; Special Indemnity
 	
				  39

				  
	
				  Section
					 11.05.
 	
				  Waiver
					 of Certain Accounting Claims; Special Indemnity
 	
				  39

				  
	
				  Section
					 11.06.
 	
				  Continuing
					 Liability under Other Agreements
 	
				  40

				  
	 	 	 
	
				  ARTICLE
					 XII
 	
				  ASSIGNMENT
					 AND DELEGATION
 	
				  40

				  
	
				  Section
					 12.01.
 	
				  Assignment
					 and Delegation
 	
				  40

				  
	 	 	 
	
				  ARTICLE
					 XIII
 	
				  MISCELLANEOUS

				  	
				  40

				  
	
				  Section
					 13.01.
 	
				  Documentary
					 Conventions
 	
				  40

				  
	
				  Section
					 13.02.
 	
				  Power of
					 Attorney
 	
				  40

				  
	
				  Section
					 13.03.
 	
				  Reliance

				  	
				  41

				  
	
				  Section
					 13.04.
 	
				  Certain
					 Information
 	
				  41

				  
	
				  Section
					 13.05.
 	
				  [Intentionally
					 Left Blank]
 	
				  41

				  
	
				  Section
					 13.06.
 	
				  Relationship
					 to Securitization Servicing Agreement and WHCO Servicing Agreement

				  	
				  41

				  

 

		 

		Schedules

		 

		
		  	
				  Schedule
					 2.02(a)
 	
				  Aircraft
					 Assets Services
 

 

		
		  	
				  Schedule
					 2.02(a)(i)
 	
				  Intentionally
					 Left Blank
 

 

		
		  	
				  Schedule
					 2.02(a)(ii)
 	
				  Form of
					 Officer’s Certificate
 

 

		
		  	
				  Schedule
					 4.01
 	
				  Aircraft
					 Assets
 

 

		
		  	
				  Schedule
					 4.02
 	
				  Aircraft
					 Assets Related Documents
 

 

		
		  	
				  Schedule
					 4.03
 	
				  Bank
					 Accounts
 

 

		
		  	
				  Schedule
					 4.04(a)
 	
				  List of
					 Persons within the Genesis Group and Jurisdictions
 

 

		
		  	
				  Schedule
					 7.01
 	
				  Responsibilities
					 of Genesis Group
 

 

		
		  	
				  Schedule
					 7.04
 	
				  Liabilities
					 Incurred in Ordinary Course of Business
 

 

		
		  	
				  Schedule
					 8.01
 	
				  Conditions
					 to Execution 
 

 

		
		  	
				  Schedule
					 9.06(a) 
 	
				  Overhead
					 Expenses
 

 

		
		  	
				  Schedule
					 9.06(b)
 	
				  Categories
					 of Aircraft Asset Expenses
 

		  	Schedule 13.02 	Management
				  Services Power of Attorney of [Grantor]

 

		
		   

		  
			 iii
		  

		  
			 
		  

		  

		  
 

		

		 

		Annexes

		 

		
		  	
				  Annex
					 1
 	
				  Insurance
					 Guidelines
 

		  	Annex 2	Intentionally
				  Left Blank

 

		 

		Appendices

		 

		
		  	
				  Appendix
					 A
 	
				  Construction
					 and Usage; Definitions
 

 

		
		  	
				  Appendix
					 B
 	
				  Form of
					 Guarantee
 

		  	Appendix C	Notices

 

		 

		Exhibits

		 

		
		  	
				  Exhibit
					 A
 	
				  Monthly
					 Report Form
 

		  	Exhibit B	Quarterly Report Form

 

		 

		
		  iv
		

		
		  
		

		

		
 

		 
 

	 MASTER
		SERVICING AGREEMENT dated as of _______ __, 2006, between GE COMMERCIAL
		AVIATION SERVICES LIMITED, a company incorporated under the laws of Ireland
		(the “Servicer”)
		and GENESIS LEASE LIMITED, a limited liability company incorporated under the
		laws of Bermuda (“Genesis”).
		For the consideration set forth herein and other good and valuable
		consideration, the receipt of which is hereby acknowledged, the Servicer and
		Genesis agree as follows:

	  

	 ARTICLE
		I

	  

	 Definitions

	  

	 Section
		1.01. Definitions. Unless
		otherwise defined herein, all capitalized terms used but not defined herein
		have the meanings assigned to such terms in Appendix A.

	  

	 Section
		1.02. Construction
		and Usage. The
		conventions of construction and usage set forth in Appendix A are incorporated
		by reference herein.

	  

	 ARTICLE
		II

	  

	 Appointment;
		Services

	  

	 Section
		2.01. Appointment.
		(a) Subject to Section 2.01(c) below, Genesis appoints the Servicer
		as the exclusive provider of the Services (as defined in Section 2.02(a))
		to (1) Genesis, (2) Subsidiaries of Genesis and (3) Affiliates
		of Genesis (collectively, including GFL and its Subsidiaries, the
		“Genesis
		Group”)
		in respect of all Aircraft Assets on the terms and subject to the conditions
		set forth in this Agreement. In furtherance of the foregoing, the parties
		hereto acknowledge and agree that, notwithstanding any other provision of this
		Agreement, without the consent of the Servicer, Genesis shall not, and shall
		not permit any Person within the Genesis Group or any agent of any thereof,
		including the Administrative Agent, to, contact directly or otherwise have any
		direct dealings with any Lessee or any relevant third party with respect to any
		Aircraft Asset (which, as provided in the definition of “Aircraft
		Assets”, the parties understand shall not include any Aircraft in respect
		of which the Servicer determines it will not provide Services pursuant to
		Section 2.02(h) or any Aircraft Asset (x) that shall have ceased to be an
		Aircraft Asset in accordance with the provisions of Sections 2.04(b) or
		3.02(d), but shall include any Former Aircraft Asset that shall have become an
		Aircraft Asset pursuant to Section 6.07 of the Servicing Agreement or
		(y) in respect of which the obligation of the Servicer to provide Services
		shall have been terminated in accordance with Article X) (such contact or
		other direct dealing, a “Lessee
		Contact”)
		to the extent that such Lessee Contact constitutes, or involves taking any
		action that constitutes, the provision or performance of any Services (to such
		extent, a “Restricted
		Lessee Contact”).
		Notwithstanding the foregoing, in the event that Genesis or any other member of
		the Genesis Group reasonably believes that it shall be necessary or, in the
		case of clause (iv) or (v) below only, desirable, for there to be a
		Restricted Lessee Contact under circumstances in which one of the following
		clauses is applicable:

	  

	 (i) [Intentionally
		Left Blank];

	  

	 (ii) following
		the cessation of all dividends and other distributions to shareholders of
		Genesis for at least sixty (60) days, and at least 15% of the number of
		Aircraft Assets shall not be subject to Leases and each such Aircraft Asset
		shall have been off-lease and reasonably available for re-lease (which, for
		purposes of clarification, shall mean that such Aircraft Asset shall be in the
		possession or under the unfettered control of the Servicer, together with the
		related Aircraft Documents, shall be free of any legal prohibition on the
		re-leasing thereof, shall be free of Liens (other than Liens, if any, created
		pursuant to the Financing

	 
		 

		
		  
		

		

		
 

	 

	  

	 Agreement
		or created by or at the instruction of the Servicer and shall be in a condition
		which should be reasonably acceptable to a potential lessee) during the
		three-month period ending on the sixtieth (60th) day
		after the date of cessation;

	  

	 (iii) in
		respect of any claim for indemnification made by the Servicer under this
		Agreement in respect of a Loss incurred by the Servicer related to a
		Lessee;

	  

	 (iv) to
		discharge Genesis’s or any other Person within the Genesis Group’s or
		any of their officer’s or director’s obligations under Applicable Law
		(including under United States’ securities laws and under United States
		and European “know your customer” laws) including any requirement to
		obtain information, to file any report with any Governmental Authority, to
		fulfill their fiduciary duties or other obligations under Applicable Laws or to
		respond to any court order or to prosecute or defend any suit;

	  

	 (v) to
		respond to requests from auditors of any Person within the Genesis Group
		reasonably related to the filing of any tax return or the conduct of any audit
		in respect of Genesis and/or its subsidiaries;

	  

	 (vi) to
		enable Genesis to discharge its obligations under
		Article VII;

	  

	 (vii) to
		enable the Administrative Agent to monitor the Servicer’s performance
		under this Agreement in accordance with the express terms of the Administrative
		Agency Agreement;

	  

	 (viii) [Intentionally
		Left Blank]; or

	  

	 (ix) the
		Servicer’s material failure to perform a Service which involves a Lessee
		and necessitates a Lessee Contact, which material failure continues unremedied
		for 30 days after the Servicer’s receipt of written notice of such
		material failure from Genesis and which if left unremedied would have a
		Material Adverse Effect on the Genesis Group taken as a whole;

	  

	 then
		Genesis or another Person within the Genesis Group, shall deliver a written
		notice to the Servicer setting forth in reasonable detail the reasons for such
		Restricted Lessee Contact (including which of the foregoing clauses (i)
		through (ix) is applicable thereto) and the specifics of such Restricted Lessee
		Contact. In the case of clauses (ii) and (iv) through (vii) above, after
		receipt of such notice, the Servicer shall promptly notify Genesis whether the
		Servicer will itself make such Restricted Lessee Contact, or whether a Person
		within the Genesis Group or agent of any thereof, including the Administrative
		Agent, should make such Restricted Lessee Contact. In the case of
		clauses (iii) and (ix) above, after delivering such notice to the
		Servicer, any Person within the Genesis Group shall be permitted to make such
		Restricted Lessee Contact directly itself or through any agent, including the
		Administrative Agent. In making any Restricted Lessee Contact Genesis shall
		not, and shall not permit any Person within the Genesis Group or any agent of
		any thereof, including the Administrative Agent, to interfere with the
		Servicer’s performance of any Services.

	  

	 For
		purposes of clarification, the parties agree that Genesis or any agent thereof,
		including the Administrative Agent, may contact a Lessee for the purpose of
		purchasing Aircraft from such Lessee or for the purpose of selling or leasing
		Aircraft that are not Aircraft Assets hereunder, or “Aircraft Assets”
		under any Securitization Servicing Agreement or the WHCO Servicing Agreement,
		to such Lessee, and such contact shall not be considered a Restricted Lessee
		Contact, so long as in no event shall Genesis or any agent thereof interfere
		with the Servicer’s performance of any Services in respect of any Aircraft
		Asset.

	 
		 

		
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	 (b) The
		Servicer hereby accepts its appointment pursuant to the first sentence of
		Section 2.01(a) and agrees to perform the Services on the terms and
		subject to the conditions set forth in this Agreement.

	  

	 (c) Notwithstanding
		the foregoing, on and as of the date hereof, and for so long as the GFL
		Servicing Agreement or the WHCO Servicing Agreement, as the case may be,
		remains in effect and applicable to the “Aircraft Assets” covered
		thereby, the Services provided by the Servicer in respect of the Aircraft
		Assets owned by GFL and its Subsidiaries, and the Services provided by the
		Servicer in respect of the Aircraft Assets owned by WHCO and its Subsidiaries,
		shall be provided by the Servicer pursuant to the GFL Servicing Agreement and
		the WHCO Servicing Agreement, respectively, and not this Agreement. This
		Agreement shall be applicable to such Aircraft Assets only as and to the extent
		set forth in Section 13.06. In the event that Aircraft Assets are at any time
		after the date hereof owned by a Securitization Vehicle or its Subsidiaries
		other than GFL or WHCO, then the Servicer and such Securitization Vehicle shall
		enter into a Servicing Agreement with substantially the same terms and
		conditions as the GFL Servicing Agreement (together with the GFL Servicing
		Agreement, a “Securitization
		Servicing Agreement”),
		which shall control in lieu of this Agreement in respect of the Securitization
		Vehicle and the “Aircraft Assets” as defined therein for so long as
		such “Aircraft Assets” remain covered by such Securitization
		Servicing Agreement. All Aircraft Assets owned or leased in by Persons of the
		Genesis Group shall be covered by this Agreement when not covered by the WHCO
		Servicing Agreement or a Securitization Servicing Agreement. Persons in the
		Genesis Group whose Aircraft Assets are covered by this Agreement, and not by
		the WHCO Servicing Agreement or by any Securitization Servicing Agreement, are
		referred to as “MSA
		Persons”
		and the Aircraft Assets owned or leased by any such MSA Person are referred to
		as “MSA
		Aircraft Assets”.
		

	  

	 Section
		2.02. Aircraft
		Asset Services.
		(a) The Services to be provided by the Servicer in respect of the MSA
		Aircraft Assets are as set forth in Schedule 2.02(a) (the
		“Services”),
		the provisions of which Schedule 2.02(a) are hereby incorporated herein by
		reference.

	  

	 (b) Genesis
		has advised the Servicer that each MSA Person has appointed Genesis to act as
		its representative with respect to any matter in respect of which Genesis or
		any such MSA Person is required or permitted to take any action pursuant to the
		terms of this Agreement. Accordingly, in connection with the performance of the
		Services, the Servicer shall in all cases be entitled to rely on the
		instructions (or other actions) of Genesis as representative of each MSA
		Person. The Servicer shall not be liable to Genesis or any other MSA Person for
		any act taken or omission to act in accordance with such instructions (or other
		actions), except to the extent otherwise provided in Section 3.03 and
		Article XI. The Servicer shall in all cases be entitled to rely upon the
		instructions (or other actions) of Genesis and upon notices, reports or other
		communications (whether written or oral) made by any Lessee or any other Person
		(other than any Affiliate of the Servicer) in or concerning any MSA Aircraft
		Assets, Aircraft Assets Related Document or any document in connection
		therewith and shall not be responsible for the accuracy or completeness of any
		such notices, reports or other communications.

	  

	 (c) Genesis
		has advised the Servicer that it has appointed the Administrative Agent, on a
		revocable basis, to, among other things, act on its behalf in connection with
		any actions required or permitted to be taken by Genesis on its own behalf or
		on behalf of any other MSA Person (including as provided in
		Section 2.02(b)) pursuant to the terms of this Agreement. Accordingly, in
		connection with the performance of the Services, unless earlier notified in
		writing by Genesis that the Administrative Agent’s appointment to act on
		behalf of Genesis has been revoked or terminated, the Servicer shall in all
		cases be entitled to rely on the instructions (or other actions) of the
		Administrative Agent; provided,
		however, that
		the Servicer shall not be obliged to act upon the instructions of, or with
		respect to, the Administrative Agent unless the Servicer consented to the
		appointment of such Administrative Agent in writing, which consent shall not be
		unreasonably withheld (it being understood that the Servicer may

	 
		 

		
		  3
		

		
		  
		

		

		
 

	 

	  

	 consider,
		among other factors, whether the proposed Administrative Agent is a
		Competitor). The Servicer hereby consents to the appointment of
		___________________ as the initial Administrative Agent. The appointment of the
		Administrative Agent to act on behalf of Genesis shall in no way limit or
		otherwise derogate from the Servicer’s right to rely on the instructions
		(or other actions) of Genesis as set forth in Section 2.02(b). Without
		limiting the foregoing, until such time as the Servicer has been notified in
		writing that the Administrative Agent’s appointment has been revoked or
		terminated, in all circumstances requiring the direction, consent or approval
		of, or the delivery of any notices or other communications to, Genesis or any
		other MSA Person hereunder, the Servicer shall only be required to seek the
		direction, consent or approval of, or deliver any such notices or other
		communications to, the Administrative Agent. The Servicer shall not be liable
		to any Person within the Genesis Group or any other Person for any act taken or
		omission to act in accordance with the instructions (or other actions) of the
		Administrative Agent, except to the extent otherwise provided in
		Section 3.03 and Article XI. Genesis agrees with the Servicer that
		the Administrative Agency Agreement shall not be amended by the parties thereto
		in any manner that may, directly or indirectly, affect the Servicer’s
		rights, obligations or liabilities (or potential liabilities) under this
		Agreement or with respect to the Administrative Agency Agreement or otherwise
		without the Servicer’s prior written consent. Genesis further agrees that
		it alone shall be responsible for any limitations placed on the authority of or
		scope of the actions to be taken by the Administrative Agent and the Servicer
		shall have no responsibilities or liabilities in connection therewith or be
		deemed to have knowledge of or otherwise be concerned with respect
		thereto.

	  

	 (d) Except
		as otherwise provided in Sections 2.02(h), 2.04(b), 3.02(c), 3.02(d) and 10.04,
		Genesis agrees not to (and not to permit any other Person within the Genesis
		Group to) appoint any third party service provider (whether an Affiliate or
		otherwise) with respect to any Aircraft Asset without the prior written consent
		of the Servicer; provided,
		however, that
		the Servicer’s prior written consent is not required with respect to the
		appointment by any Person within the Genesis Group of any legal, accounting,
		insurance, valuation or other similar service providers to perform services not
		included within the Services.

	  

	 (e) The
		Servicer shall in all cases be entitled to rely on the instructions (or other
		actions) of any MSA Person that the Servicer reasonably believes to be
		authorized to act on behalf of Genesis (or any other MSA Person) or the
		Administrative Agent and shall not be liable to any Person within the Genesis
		Group for any act taken or omission to act in accordance with such instructions
		(or other actions), except to the extent otherwise provided in
		Section 3.03 and Article XI.

	  

	 (f) Notwithstanding
		anything contained in this Agreement to the contrary, the Servicer shall not be
		required to perform any Service (or any other service) with respect to any MSA
		Aircraft Asset unless and until a true and complete copy of all Aircraft Assets
		Related Documents related thereto has been delivered to the Servicer or other
		written notice thereof has been provided to the Servicer.

	  

	 (g) Genesis
		agrees not to (and not to permit any other Person within the Genesis Group to)
		enter into any agency, finders’ or brokerage agreements (whether with an
		Affiliate or otherwise) relating to the procurement of lessees or purchasers
		for the Aircraft Assets (or agreements similar thereto) without the prior
		written consent of the Servicer or as otherwise permitted under the WHCO
		Servicing Agreement or an applicable Securitization Servicing
		Agreement;

	  

	 (h) Without
		limiting the exclusive right of Servicer to service all Aircraft Assets, the
		Servicer shall not be obligated or required to accept an Aircraft as an
		Aircraft Asset or provide any Services in respect of any Aircraft Asset
		if:

	  

	 
		
		  4
		

		
		  
		

		

		
 

	 

	  

	 (i) at any
		time the Servicer believes, in good faith but sole discretion, that the
		provision of any of the Services with respect thereto or any actions, inactions
		or consequences related thereto or arising therefrom, or any conditions, events
		or circumstances existing at any time of determination, may directly or
		indirectly lead to or create:

	  

	 (A) (x) a
		violation of any Applicable Law with respect to the Servicer or its Affiliates
		or of any GE Policy or (y) an investigation by any Governmental Authority
		of or relating to the Servicer, any of its Affiliates or the Services,
		or

	  

	 (B) a
		conflict of interest with respect to any Person that is unacceptable to the
		Servicer for any reason determined in good faith but sole discretion, and for
		the avoidance of doubt and in recognition of the potentially sensitive nature
		of any information related thereto, the Servicer shall have no obligation to
		disclose any such basis therefor, or

	  

	 (C) a
		requirement of resources being allocated to, or expenses being incurred in
		connection with, the servicing of one or more of such Aircraft, individually or
		in the aggregate with respect to any group thereof, which will be materially
		different from those being allocated to, or incurred in connection with, other
		Aircraft which are serviced by the Servicer, or

	  

	 (ii) such
		Aircraft is a commercial jet aircraft which as of its date of acquisition is
		more than 20 years old or is not manufactured by manufacturers based in North
		America, South America, Asia or Europe; or such Aircraft is of a model or type
		not then currently in the GECAS and its Affiliates owned fleet or is of a model
		or type of which GECAS has decided to phase out of such owned
		fleet;

	  

	 (iii) such
		Aircraft is on lease to or otherwise involves a Person with whom the Servicer
		or any of its Affiliates is involved in a legal proceeding or otherwise with
		which the Servicer or any of its Affiliates has a material dispute;
		or

	  

	 (iv) there is
		any default or event of default, or any potential payment, insurance or
		bankruptcy default, then in existence by Genesis or any of its Affiliates under
		this Agreement or the WHCO Servicing Agreement or any Securitization Servicing
		Agreement, or any guaranties or any related or other agreements with the
		Servicer or any of its Affiliates, or any event or condition has occurred and
		is continuing which gives, or with notice or the passage of time would give,
		Servicer or any of its Affiliates, a right to terminate any of such agreements,
		in each case which has not been cured or is not reasonably expected to be cured
		on or before the date that Services by the Servicer in respect of such Aircraft
		are expected to commence; or

	  

	 (v) Genesis
		and the Servicer so mutually agree (but neither party shall have any obligation
		to do so or to negotiate to do so).

	  

	 Except
		with respect to the Original Aircraft, Genesis shall notify the Servicer of the
		entry by any Person in the Genesis Group into any letter of intent, memorandum
		of understanding, term sheet or other preliminary agreement for the acquisition
		of the ownership or leasing-in of any Aircraft, and shall provide the Servicer
		with a true and complete copy thereof and with such additional information
		regarding such Aircraft (including any Lease or Lessee in respect thereof) as
		the Servicer shall reasonably request. Within ten (10) Business Days after
		having been provided with all such information, the Servicer shall advise
		Genesis whether or not each such Aircraft is to be considered an Aircraft Asset
		hereunder. If the Servicer notifies Genesis that any Aircraft shall not be
		considered an Aircraft Asset hereunder then such Aircraft shall not become
		subject to this Agreement (or the WHCO Servicing Agreement or any 

	  

	 
		
		  5
		

		
		  
		

		

		
 

	 

	  

	 Securitization
		Servicing Agreement) and Genesis shall be free to make such alternative
		arrangements for the servicing of such Aircraft as Genesis shall
		determine.

	  

	 Section
		2.03. Offerings.
		(a) (i) In connection with the public or private offering and sale
		(whether within the United States, outside of the United States or both within
		and outside of the United States) of any equity or debt securities or the
		obtaining of any loans (including lines of credit but excluding individual
		aircraft financing of five or fewer Aircraft) by (x) Genesis or any of its
		Affiliates or (y) any other Person, pursuant to which any Person within
		the Genesis Group or any of its Affiliates is required to file, or assist in
		the filing of, any registration statement with the United States Securities and
		Exchange Commission, or prepare and distribute, or assist in the preparation
		and distribution of, a private placement memorandum, lender group memorandum or
		other securities or loan offering document (any such offering and sale,
		including the Initial Offer, being hereinafter referred to herein as an
		“Offering”),
		Genesis will provide (or cause its advisors to provide, as the case may be) the
		Servicer and its advisors drafts of, and a reasonable time to review, each
		registration statement, prospectus, offering memorandum, private placement
		memorandum, lender group memorandum or other securities or loan offering
		document, as the case may be, and each amendment or supplement to any thereof
		relating to any such Offering (each, a “Prospectus”),
		with information therein that Genesis reasonably determines under Applicable
		Law cannot or should not be disclosed to the Servicer at such time redacted
		therefrom, and will use its best efforts to incorporate the comments, if any,
		provided by the Servicer with respect to the Servicer or any of its Affiliates
		or their respective roles in connection with any such Offering , including
		under this Agreement, the WHCO Servicing Agreement any Securitization Servicing
		Agreement or the Business Opportunities Agreement (the “Servicer Disclosure”,
		which term shall include, without limitation, the Servicer Information) (it
		being understood that the Servicer and its Affiliates have the right, but not
		the obligation, to comment thereon). Genesis will not, and will not permit any
		Person within the Genesis Group to, file, or assist in the filing of, any such
		Prospectus with any governmental agency or otherwise publicly disclose or
		distribute to potential purchasers or lenders the contents of such Prospectus
		without the Servicer’s prior consent (which consent must be written only
		with respect to, in the case of any Prospectus that is filed with the United
		States Securities and Exchange Commission, the last Prospectus filed prior to
		or concurrently with the filing of a request for acceleration of effectiveness
		of the related registration statement or post-effective amendment thereto or,
		in the case of any Prospectus that is not filed with the United States
		Securities and Exchange Commission, the version of the Prospectus to be
		delivered in connection with the sale, or confirmation of sale, of any debt or
		equity securities or the making of any loans, as the case may be) as to those
		portions of any such Prospectus constituting Servicer Disclosure which consent
		shall not be unreasonably withheld or determination delayed.

	  

	 (ii) Genesis
		understands and agrees that the Servicer has the right to approve any and all
		Servicer Disclosure, including the context thereof, and that Genesis will not
		permit the inclusion in any Prospectus of (x) any financial statements or
		financial data relating to the Servicer or any Affiliate thereof,
		(y) performance or related data with respect to the Servicer’s
		servicing of aircraft directly or indirectly owned by any Person within the
		Genesis Group or directly or indirectly owned by Genesis or any of its
		Affiliates or any other Person’s aircraft or other assets or (z)
		information relating to aircraft owned or managed by the Servicer or any of its
		Affiliates. For the avoidance of doubt, however, if such information and the
		context of its disclosure are approved by the Servicer in writing, then Genesis
		shall have the right to include such information in such Prospectus.
		Notwithstanding the foregoing, the Servicer agrees (A) that, subject to
		its prior review and updating, any Prospectus may include Servicer Disclosure
		substantially identical to that contained in the Servicer Information in the
		Final Prospectus and (B) to respond with any comments it may have on any
		Servicer Disclosure reasonably promptly following Genesis’s delivery of
		drafts of the entire Prospectus (subject to redaction as provided above),
		including any Servicer Disclosure, to the Servicer. Genesis will also provide
		(or cause its 

	  

	 
		
		  6
		

		
		  
		

		

		
 

	 

	  

	 Affiliates
		or advisors to provide, as the case may be) the Servicer with copies of, and an
		opportunity to review, any marketing and marketing related materials that
		contain Servicer Disclosure produced in connection with any Offering. Genesis
		will not distribute any such marketing materials (or disseminate, or permit the
		dissemination of, the information contained therein) without the
		Servicer’s prior written consent in respect of such Servicer Disclosure,
		which consent shall not be unreasonably withheld or determination delayed. The
		Servicer agrees to respond with any comments it may have on any such marketing
		materials reasonably promptly following Genesis’s delivery of copies
		thereof to the Servicer.

	  

	 (iii) Genesis
		agrees that it will use its commercially reasonable efforts to cause its legal,
		accounting and other technical advisors to include the Servicer and such
		Affiliates of the Servicer as the Servicer designates as addressees of any
		opinions and/or comfort letters being provided to any Person within the Genesis
		Group and/or any underwriters in connection with any Offering.

	  

	 (iv) Genesis
		agrees that each Prospectus will include disclosure, in form and substance
		satisfactory to the Servicer, of all disclaimers, the Standard of Care,
		Standard of Liability and Conflicts Standard, waivers of liability and
		indemnification pertaining to the Servicer or any of its Affiliates or their
		respective roles in connection with this Agreement and any related
		Offering.

	  

	 (b) Subject
		to Section 2.03(g) below, if Genesis reasonably requests that the Servicer or
		its Affiliates be present on a reasonable basis at customary
		marketing activities (including a so-called “road show”), related to
		any Offering, the Servicer and its Affiliates shall agree to discuss being
		present at such marketing activities, but solely in the Servicer’s
		capacity as Servicer with respect to the Aircraft Assets pursuant to this
		Agreement and only on such basis and with such compensation as is acceptable to
		the Servicer. Genesis agrees that, to the extent the Servicer has agreed to
		participate in any such marketing activities, on any such marketing activities
		the Servicer’s only obligation shall be, to the extent necessary, to
		discuss the factual matters relating to its role as servicer hereunder, under
		any applicable Securitization Servicing Agreement and the Business
		Opportunities Agreement and the Aircraft Assets which are the subject hereof,
		including discussing information contained in the Prospectus with respect to
		such assets relating to types of aircraft, aircraft maintenance and aircraft
		leases. Notwithstanding the foregoing, the Servicer shall not be required to
		make any presentations with respect to, or to comment upon, its views of future
		trends in the aviation industry, including future trends relating to types of
		aircraft, particular lessees or expected aircraft lease rates or values, or to
		provide opinions, forecasts, predictions or prospects relating thereto (or to
		the Aircraft Assets). In no event shall a representative of the Servicer be
		required to attend any marketing activities without representatives of Genesis
		and the underwriters.

	  

	 (c) Genesis
		agrees that it will not submit any materials to any Rating Agency containing
		any Servicer Disclosure without the Servicer’s prior consent, which
		consent shall be in writing and not be unreasonably withheld or determination
		delayed.

	  

	 (d) Genesis
		understands, acknowledges and agrees that the Servicer will not be a party to
		any underwriting, securities purchase or similar agreement or any letter to,
		representation to or indemnity or other agreement with, any underwriter or
		initial purchaser, in connection with any Offering, and, except as set forth in
		Section 2.03(m), shall not assume responsibility for any information set
		forth in any Prospectus related thereto.

	  

	 (e) (i) Subject
		to executing confidentiality agreements satisfactory in form and substance to
		Genesis, Genesis agrees to use its commercially reasonable efforts to provide
		the Servicer or

	  

	 
		
		  7
		

		
		  
		

		

		
 

	 

	  

	 any of
		its Affiliates and/or advisors with an opportunity, at the Servicer’s
		election, to conduct customary due diligence with respect to any Offering,
		including with respect to any matters disclosed in any Prospectus.

	  

	 (ii) Subject
		to executing confidentiality agreements satisfactory in form and substance to
		the Servicer, the Servicer agrees to provide Genesis, underwriters, Rating
		Agencies and/or advisors with reasonable opportunities to conduct due diligence
		with respect to information pertaining to the Servicer and the provision of
		Services pursuant to this Agreement with respect to the Aircraft Assets;
		provided,
		however, that,
		if it is established to the Servicer’s reasonable satisfaction that any
		Rating Agency does not execute confidentiality agreements as a matter of
		policy, the Servicer will waive such requirement with respect to such Rating
		Agency so long as such Rating Agency establishes to the Servicer’s
		reasonable satisfaction that any information made available to it will be held
		confidential.

	  

	 (f) Except
		to the extent required by law, Genesis agrees not to (and not to permit any
		other Person within the Genesis Group or Genesis or any of its Affiliates to)
		make directly or indirectly, any press release or other public announcement by
		any means (including by making disclosures to financial analysts or other
		members of the financial community that are intended to be or could reasonably
		be expected to be publicly disclosed) containing or relating to Servicer
		Disclosure without the Servicer’s prior written consent, which consent
		shall not be unreasonably withheld or determination delayed. In the event a
		press release or other public announcement is recommended by securities counsel
		or required by law, Genesis shall consult with the Servicer prior to making (or
		permitting to be made) any such press release or public announcement to the
		extent that such press release or public announcement relates to the Servicer
		(or any of its Affiliates) or their respective involvement in any Offering.
		Promptly after Genesis’s request therefor, the Servicer agrees to provide
		Genesis with the Servicer’s pre-approved customary Servicer Disclosure for
		inclusion in Genesis’s quarterly and annual public reporting disclosure
		documents to be filed with the Securities and Exchange Commission; provided,
		however, that
		the context of such Servicer Disclosure in each such document shall be subject
		to the prior consent of the Servicer.

	  

	 (g) Upon the
		closing of any Offering (other than the Initial Offer) with respect to which
		Genesis has requested participation from the Servicer as provided above in
		Section 2.03(b), Genesis shall pay, or cause another Person to pay, the
		Servicer financing fees in such amount as Genesis and the Servicer shall have
		agreed. In addition to such agreement on such fees, Genesis and the Servicer
		hereby agree that additional fees shall be paid to the Servicer in connection
		with the Servicer’s involvement with the solicitation of, or other action
		to obtain, any lessee consents and/or novations in connection with any
		Offering. Such additional fees to be paid to the Servicer in connection with
		the Servicer’s involvement with respect to any such Offering shall consist
		of $6,000 per applicable Aircraft. 

	  

	 (h) Notwithstanding
		the foregoing, (i) except as otherwise expressly agreed by an Affiliate of
		the Servicer in a separate agreement in the case of this clause (i),
		neither the Servicer nor any of its Affiliates shall be obligated to underwrite
		or purchase any securities to be issued by Genesis or any other Person within
		the Genesis Group or by any other Person in any Offering; (ii) neither the
		Servicer nor any of its Affiliates shall be obligated to issue any Guarantees
		or otherwise to provide any credit enhancement or support or incur any
		obligations or liabilities to provide any credit enhancement or support or
		incur any other obligations or liabilities in connection with any Offering;
		(iii) neither the Servicer nor any of its Affiliates shall be required to
		sign any registration statement (or any similar document) in connection with
		any Offering (as “registrant”, “issuer” or in any other
		capacity) or take any other action that could, in the Servicer’s sole
		determination, result in the Servicer or any of its Affiliates being (or being
		deemed to be) a “control person” with respect to the applicable
		issuer of any securities issued in connection with any such financing
		transaction under applicable securities laws in connection with any such
		financing or an “underwriter” of any such securities; and
		(iv) the obligations of the Servicer under this Section 2.03 shall be
		subject to the reasonable satisfaction of the Servicer with all the terms
		and

	 
		 

		
		  8
		

		
		  
		

		

		
 

	 

	  

	 conditions
		of the applicable Offering that relate to the Servicer or any of its Affiliates
		or their respective roles (including the indemnities in favor of the Servicer
		and its Affiliates).

	  

	 (i) In the
		case of any Offering, the Indemnified Parties shall have no liability for, and
		Genesis shall hold, and shall cause each other Person, if any, for whom a
		Offering was conducted to hold, each Indemnified Party harmless from, and
		indemnify on an After-Tax Basis each Indemnified Party against, any and all
		Losses that may be imposed on, incurred by or asserted against (including with
		respect to any such claims, suits, actions or proceedings by third parties,
		including the applicable underwriters and purchasers of any securities issued
		in connection with any such Offering) such Indemnified Party, directly or
		indirectly, arising out of, in connection with or related to the
		Servicer’s performance of the obligations set forth in this
		Section 2.03 with respect to any Offering; provided,
		however, that
		such indemnity shall not apply to the extent that, if Genesis had suffered such
		Losses, the Servicer would have been required to indemnify Genesis pursuant to
		the terms of Section 2.03(m). The obligation of Genesis under this
		Section 2.03(i) shall be in addition to any liability that Genesis may
		otherwise have to the Indemnified Parties and shall not be limited or reduced
		with respect to the Indemnified Parties by any other rights to indemnification
		that may be available to such Indemnified Parties.

	  

	 (j) Genesis
		agrees to reimburse the Servicer, on a monthly basis, for all out-of-pocket
		expenses incurred directly or indirectly by the Servicer or any of its
		Affiliates in connection with any Offering with respect to which the Servicer
		shall provide services pursuant to this Section 2.03, including any
		outside advisor fees and expenses (including travel and lodgings), including
		legal, accounting, investment banking, consulting and other similar advisors
		retained by the Servicer or any of its Affiliates in connection with any
		Offering.

	  

	 (k) For the
		avoidance of doubt, but without derogating from any of the Servicer’s
		rights hereunder, the Servicer shall continue to act as the primary servicer
		for each Aircraft Asset, following the financing or refinancing thereof
		pursuant to a public or private aircraft financing transaction, so long as any
		Person within the Genesis Group owns or leases, or otherwise has direct or
		indirect interest, in such Aircraft Asset, on the terms provided in this
		Agreement. In furtherance of the foregoing, the Servicer shall continue to act
		as the primary servicer for any Aircraft Assets that are financed or refinanced
		pursuant to a public or private aircraft financing transaction (including a
		public or private securitization financing transaction) under circumstances in
		which, following such financing or refinancing, (i) Genesis or any Person
		in the Genesis Group has (individually or in the aggregate) a direct or
		indirect interest in such Aircraft Assets or in any securities representing the
		residual or equity interest in such Aircraft Assets, and (ii) such
		Aircraft Assets are to be managed pursuant to a servicing agreement or other
		arrangement other than this Agreement, (x) on a basis substantially the
		same as the basis upon which the Servicer provides the Services pursuant to
		this Agreement (including for the fees provided for herein to be paid to the
		Servicer and in accordance with the Standard of Care and the Conflicts Standard
		and subject to the Standard of Liability and Article XI) and
		(y) otherwise on such commercially reasonable terms as shall be
		agreed.

	  

	 (l) Notwithstanding
		any provision to the contrary in this Agreement, GE Capital or any Affiliate of
		GE Capital may, in its sole discretion, at any time and from time to time enter
		into and effectuate, directly or indirectly, public or private financing
		transactions with respect to Aircraft other than the Aircraft
		Assets.

	  

	 (m) The
		Servicer shall indemnify and hold harmless Genesis, and its trustees, officers
		and employees from and against any and all Losses that may be imposed on,
		incurred by or asserted against Genesis or any such other Person insofar as any
		such Loss arises out of, or is based upon, (i) any untrue statement or
		alleged untrue statement of a material fact contained in the Servicer
		Information (as

	  

	 
		
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	 defined
		below) contained in any final or preliminary Prospectus or in any amendment
		thereof or supplement thereto or in any other document filed with the United
		States Securities and Exchange Commission or (ii) the omission or alleged
		omission to state in the Servicer Information included in any final or
		preliminary Prospectus a material fact required to be stated therein or
		necessary to make the statements therein not misleading; provided,
		however, that
		the Servicer shall not be liable to Genesis or any other Person under the
		indemnity set forth in this Section 2.03(m) (x) unless the Servicer
		shall have consented in writing to the text of the Servicer Information in such
		final or preliminary Prospectus and (y) if the relevant Loss results from
		an untrue statement or omission contained in a preliminary Prospectus that was
		delivered to a person that was sold a security described in such preliminary
		Prospectus and if the Servicer shall have provided to Genesis prior to the
		investment decision of the applicable buyer asserting such loss information
		correcting such untrue statement or omission and Genesis shall have failed to
		deliver or cause to be delivered such corrected information to such person
		containing such corrected information. “Servicer
		Information”
		shall mean the information set forth in the sections of the Final Prospectus
		captioned [WGM to insert] and the comparable sections (or comparable disclosure
		in comparable portions thereof) contained in any other preliminary or final
		Prospectus. In connection with any Offering, upon the request and at the
		expense of Genesis, the Servicer shall make a good faith effort to obtain from
		one of its regular outside legal counsel, selected by the Servicer, a customary
		securities law disclosure letter related solely to the Servicer Information
		included in the relevant Prospectus and addressed to the underwriters or
		initial purchasers in respect of the securities being offered under such
		Prospectus (such underwriters and initial purchasers not, however, constituting
		third party beneficiaries of this Agreement).

	  

	 Section
		2.04. Compliance
		with Applicable Laws and GE Policies. (a)
		Notwithstanding anything to the contrary in this Agreement, the Servicer shall
		not be obligated to take or refrain from taking any action at any time that the
		Servicer believes, in good faith but sole discretion, is reasonably likely to
		(i) violate any Applicable Law with respect to the Servicer or its
		Affiliates or any GE Policy or (ii) lead to an investigation by any
		Governmental Authority, directly or indirectly, of or relating to the Servicer,
		any of its Affiliates or the Services. “GE
		Policy”
		means each of the established written policies of GE applicable to GE and its
		controlled affiliates related to business practices with respect to legal,
		ethical and social matters, which policies are currently embodied in the
		pamphlet The
		Spirit & The Letter, a copy
		of which has been provided to Genesis, as the same may be amended and in effect
		from time to time. The Servicer shall provide Genesis with a copy of all
		amendments and updates to The
		Spirit & The Letter.

	  

	 (b) If
		pursuant to paragraph (a) above, the Servicer shall have determined not to
		take any action with respect to any transaction or potential transaction
		(whether or not any such transaction or a similar transaction has previously
		been entered into) relating to any MSA Aircraft Asset and as a consequence
		thereof any Person within the Genesis Group shall be denied the opportunity to
		participate in any transaction or potential transaction in which it would
		otherwise be able to participate in accordance with Applicable Law, then,
		notwithstanding the provisions of Section 2.01, any such Person within the
		Genesis Group may enter into, or engage another Person to arrange on its
		behalf, such transaction or potential transaction with respect to such MSA
		Aircraft Asset; provided,
		however, that
		such Person within the Genesis Group may not enter into any such transaction or
		potential transaction if at or about the same time a substantially similar
		transaction (with at least as favorable or the same economic terms) could be
		arranged by the Servicer with respect to such MSA Aircraft Asset in a manner
		that is not reasonably likely to violate GE Policy or lead to an investigation
		by any Governmental Authority, directly or indirectly, of or relating to the
		Servicer, any of its Affiliates or the Services; provided further,
		however, that
		(i) the MSA Aircraft Asset that is the subject of such transaction or
		potential transaction or the subject of a resignation or removal as provided in
		Section 3.02(d) (a “Former
		Aircraft Asset”)
		shall cease to be a MSA Aircraft Asset (including for the purposes of
		calculating the Servicing Fees) on the date that such transaction or potential
		transaction is entered into, (ii) from and after such date (unless and
		until such

	  

	 
		
		  
			 10
		  

		  
			 
		  

		  

		  
 

		   
 
 

	 Former
		Aircraft Asset becomes a MSA Aircraft Asset pursuant to Section 6.07) no
		further Services shall be provided with respect to such Former Aircraft Asset
		and (iii) the Servicer shall not have any obligation or liability with
		respect to such Former Aircraft Asset or such transaction or potential
		transaction.

	  

	 (c) Notwithstanding
		anything to the contrary set forth in paragraph (b) above, no Person
		within the Genesis Group shall be entitled to enter into, or engage any other
		Person to arrange on its behalf, any transaction or potential transaction with
		respect to any MSA Aircraft Asset if the Servicer shall have made a
		determination regarding that a party to such transaction or potential
		transaction is an OFAC Designated Person or that transaction or potential
		transaction pursuant to paragraph (a) above because it reasonably believed
		that such transaction or potential transaction was reasonably likely to violate
		the United States Foreign Corrupt Practices Act (or any similar or successor
		statute), any of the Anti Terrorism Laws or any similar or successor statutes
		or orders applicable to entities organized under the laws of the United States
		(or any state or political subdivision thereof) or applicable to any Person
		within the Genesis Group or otherwise applicable to such transaction or
		potential transaction.

	  

	 Section
		2.05. Limitations.
		(a) Notwithstanding any other provision of this Agreement which could be
		construed to the contrary, neither the Servicer nor any of its Affiliates shall
		assume any Indebtedness of any Person within the Genesis Group nor shall any
		provision of this Agreement or any other Operative Agreement be construed so as
		to imply that the parties intended any such assumption.

	  

	 (b) In
		addition to Section 2.04, the Servicer shall not, and shall not be
		obligated to, act in a manner inconsistent with the rights, obligations or
		undertakings of the “Lessor” under any Lease or of the
		“seller” under a sale contract or any other Person party to any other
		contract for the benefit of any Person in the Genesis Group or otherwise in any
		manner that is illegal or prohibited by Applicable Law or any applicable
		contract.

	  

	 (c) Notwithstanding
		any other provision of this Agreement (but without limiting its obligation to
		provide Genesis with certain offers of aircraft for sale, and certain
		information related thereto, as and to the extent provided in the Business
		Opportunities Agreement) the Servicer shall not be obligated either initially
		or on a continuing basis to provide any Person within the Genesis Group or any
		of its Representatives any confidential or proprietary information regarding
		the Servicer’s or any of its Affiliates’ business or the business or
		finances of any Person, other than information regarding any Person within the
		Genesis Group, whose assets it manages from time to time.

	  

	 (d) The
		Servicer shall not be liable or accountable for (i) the failure by a
		Lessee, any buyer or any other Person to perform any of its obligations under
		any Lease, sale contract or any other contract including the payment of amounts
		payable under any Lease or any other contract or (ii) the accuracy or
		completeness of any notices, reports or other communications (whether written
		or oral) made by any Lessee, any buyer or any Person other than the Servicer in
		or concerning any Lease or any other contract or any document in connection
		therewith and shall be entitled to rely upon all such notices, reports and
		communications except to the extent that the Servicer has actual notice of any
		matter to the contrary.

	  

	 (e) The
		Servicer may rely on any Adviser, Broker, law firm or other professional
		adviser appointed by the Servicer or Genesis and shall not be liable for any
		claim by any Person within the Genesis Group or any other Person to the extent
		that it was acting in good faith upon the advice of such Adviser, Broker, law
		firm or other professional adviser.

	  

	 (f) The
		relationship between the Servicer and Genesis is an agency relationship,
		however, except in relation to any money erroneously received by the Servicer
		or any of its Affiliates into any of the Servicer’s or any of its
		Affiliates’ bank accounts on behalf of any Person within the
		Genesis

	  

	 
		
		  11
		

		
		  
		

		

		
 

		 
 

	 Group,
		which the Servicer will hold in trust for such Person and deposit into the
		Collection Account as soon as reasonably practicable, neither the Servicer nor
		any of its Representatives shall be under any fiduciary duty or other implied
		obligation or duty to any Person within the Genesis Group or to any Affiliate
		of any such Person or any holder of any equity or debt security issued by or
		lender to any Person within the Genesis Group, any Lessee, the Administrative
		Agent, or any other Person arising out of this Agreement; it being agreed that
		the rights and obligations of the parties hereto shall only be those expressly
		provided for in this Agreement.

	  

	 (g) Without
		prejudice to the Standard of Care, the Servicer shall not be imputed with the
		knowledge of any of its employees other than its directors, officers and those
		employees involved in the performance of the Services relevant to such
		knowledge responsible for the day-to-day administration of this Agreement. The
		Servicer shall be deemed to have actual notice of any matter only upon the
		receipt of written notice describing any such matter in reasonable detail or to
		the extent that one of the foregoing Persons has actual knowledge of any such
		matter or which one of such Persons ought to have known if the Servicer had
		acted in accordance with the Standard of Care.

	  

	 (h) The
		Servicer shall not be obligated to assume, or engage in activities which could
		reasonably be expected to subject the Servicer to, any liability as a related
		company or shadow director of any Person within the Genesis Group or under any
		similar legal concept. Genesis and each other party hereto understands,
		acknowledges and agrees that the intent of the parties hereunder is that the
		Servicer will not be subject to any obligations or liabilities whatsoever other
		than as and to the extent that any obligations or liabilities arise pursuant to
		the express terms of this Agreement.

	  

	 ARTICLE
		III

	  

	 Standard
		of Care; Conflicts of Interest; Standard of Liability

	  

	 Section
		3.01. Standard
		of Care. The
		Servicer shall use reasonable care and diligence at all times in the
		performance of the Services (the “Standard
		of Care”).

	  

	 Section
		3.02. Conflicts
		of Interest.
		(a) Genesis and each other party hereto acknowledges and agrees that
		(i) in addition to managing the Aircraft Assets under this Agreement, the
		Servicer may manage, and shall be entitled to manage, from time to time the
		separate assets and businesses of (r) Pegasus Aviation Finance Company and
		its Affiliates, (s) Export Development Canada, (t) GFL and its
		Affiliates, (u) GE Capital and its Affiliates, (v) Commercial
		Aircraft Leasing Ltd. and its Affiliates, (w) Lease Investment Flight
		Trust and its Affiliates, (x) Airplanes U.S. Trust and Airplanes Limited
		and their respective Affiliates, (y) Aircraft Finance Trust and its
		Affiliates and (z) other third parties (the assets of the parties
		described in clauses (r), (s), (t), (u), (v), (w), (x), (y) and (z) are
		collectively hereinafter referred to as the “Other
		Assets”);
		(ii) in the course of conducting such activities, the Servicer may from
		time to time have conflicts of interest in performing its duties on behalf of
		the various entities to whom it provides management services and with respect
		to the various assets in respect of which it provides management services; and
		(iii) the board of directors of Genesis have approved the transactions
		contemplated by this Agreement and the other Operative Agreements and desire
		that such transactions be consummated and in giving such approval and the board
		of directors of Genesis have expressly recognized that such conflicts of
		interest may arise and that when such conflicts of interest arise the Servicer
		shall perform the Services hereunder in accordance with the Standard of Care
		and, to the extent applicable, the Conflicts Standard.

	  

	 (b) If
		conflicts of interest arise regarding the management of (i) a particular
		Aircraft Asset, on the one hand, and another Aircraft Asset, on the other hand,
		or (ii) any Aircraft Asset, on the one hand, and any Other Asset, on the
		other hand, the Servicer shall perform the Services in good faith

	  

	 
		
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	 and,
		without prejudice to the generality of the foregoing, to the extent
		(i) such Aircraft Assets or (ii) such Aircraft Asset and such Other
		Asset are substantially similar in terms of objectively identifiable
		characteristics relevant for purposes of the particular Services to be
		performed, the Servicer shall not discriminate among such Aircraft Assets or
		between such Aircraft Asset and such Other Asset, respectively, on an
		unreasonable basis (the standard set forth in this Section 3.02(b) shall
		be referred to collectively as the “Conflicts
		Standard”).

	  

	 (c) Notwithstanding
		any provision herein to the contrary, if, in connection with the provision of
		Services with respect to an Aircraft Asset or Lease, a conflict of interest
		shall exist that, in the good faith opinion of the Servicer, requires an
		arm’s-length negotiation between the Servicer or an Affiliate of the
		Servicer, on the one hand, and any Person within the Genesis Group, on the
		other hand, and the Servicer believes it would not be appropriate for the
		Servicer to act on behalf of such Person within the Genesis Group in connection
		with such negotiation (whether or not the Servicer shall propose to act on
		behalf of itself or one of its Affiliates in connection with such negotiation),
		then the Servicer shall withdraw from acting as Servicer with respect to such
		Aircraft Asset or Lease in connection with the negotiation of the issue giving
		rise to such conflict of interest. The Servicer shall provide written notice to
		Genesis not more than ten Business Days after it has made a determination that
		an arm’s-length negotiation is necessary with respect to such conflict of
		interest and it would not be appropriate for the Servicer to act on behalf of
		such Person within the Genesis Group in connection with such negotiation. Not
		more than seven Business Days after receipt of such notice from the Servicer,
		Genesis shall appoint an independent representative (which may be any Person
		within the Genesis Group or the Administrative Agent, but otherwise not a
		Competitor listed in clause (ii) of the definition of such term or any of
		its Affiliates) (the “Independent
		Representative”)
		to act on behalf of such Person within the Genesis Group to which such Aircraft
		Asset or Lease and conflict of interest relates. Any such Independent
		Representative so appointed shall act on behalf of the relevant Person within
		the Genesis Group for purposes of such negotiation relating to such Aircraft
		Asset or Lease and the Servicer shall have no responsibility or liability to
		any Person within the Genesis Group with respect to such negotiation relating
		to such Aircraft Asset or Lease. In any event, the Servicer shall be entitled
		to act on behalf of itself or its Affiliate with respect to such negotiation.
		During the period of such Independent Representative’s appointment, the
		Servicer shall continue to perform its ordinary functions as Servicer with
		respect to such Aircraft Asset or Lease to the extent that the performance of
		the Servicer does not directly or indirectly affect the negotiation of the
		issue giving rise to such conflict of interest. To the extent, if any, the
		Servicer cannot continue to perform any Services with respect to such Aircraft
		Asset or Lease during such negotiation, such Services shall be performed by the
		Independent Representative or any other designee of such Person within the
		Genesis Group. Except as provided in Section 3.02(d) below, any such
		Aircraft Asset or any Aircraft Assets subject to any such Lease shall continue
		to be included as an Aircraft Asset for purposes of calculating the Servicing
		Fees pursuant to Article IX during the appointment of an Independent
		Representative and the fees, if any, of any such Independent Representative
		shall be paid by Genesis.

	  

	 (d) If
		(i) the Servicer reasonably determines that directions given by any Person
		to the Servicer in accordance with this Agreement or Services required to be
		performed under this Agreement (other than any Service involving an
		arm’s-length negotiation between the Servicer or an Affiliate of the
		Servicer, on the one hand, and any Person within the Genesis Group, on the
		other hand) would, in either case, if carried out, place the Servicer in a
		conflict of interest with respect to which, in the Servicer’s good faith
		opinion, the Servicer cannot continue to perform its obligations hereunder
		within the requirements set forth in Section 3.02 with respect to all
		Aircraft Assets or any affected Aircraft Assets, as the case may be, or
		(ii) there is a conflict of interest of the type described in
		Section 3.02(c) above which results in the Independent Representative
		being required to perform substantially all of the Services described in
		Sections 1 through 3 of Schedule 2.02(a) of this Agreement on a long-term
		basis in respect of an affected Aircraft Asset, the Servicer shall give Genesis
		prompt written notice thereof and thereafter the

	  

	 
		
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	 Servicer
		may resign as Servicer with respect to the affected Aircraft Assets or Genesis
		may elect to remove the Servicer with regard to the affected Aircraft Assets as
		provided in Article X, with the result that the affected Aircraft Asset
		shall cease to be an Aircraft Asset hereunder.

	  

	 Section
		3.03. Standard
		of Liability.
		Notwithstanding any other provision of this Agreement which could be construed
		to the contrary, the Servicer shall not be liable or accountable to any Person
		including, without limitation, Genesis or any Subsidiary or Affiliate of
		Genesis (other than Genesis to the extent set forth in the next following
		sentence) thereof or any other Person, under any circumstances for any Losses
		directly or indirectly arising out of, in connection with or related to, the
		management by the Servicer of Aircraft Assets or Other Assets. The Servicer
		shall not be liable or accountable to Genesis or any other Person in the
		Genesis Group, or any other Person under any circumstances for, and Genesis
		shall indemnify the Servicer on an After-Tax Basis in accordance with the
		provisions of Article XI for, any Losses, directly or indirectly, arising
		out of, in connection with or related to, the management by the Servicer of
		Aircraft Assets or Other Assets, unless such Losses are finally adjudicated to
		have resulted directly from (x) the Servicer’s gross negligence or
		willful misconduct (including willful misconduct that constitutes fraud) in
		respect of its obligation to apply the Standard of Care or the Conflicts
		Standard in respect of its performance of the Services or (y) any
		representation or warranty by the Servicer to such Person set forth in Sections
		4.10 or 4.11 having proven to be false on the date hereof (the liability
		standards set forth in this Section 3.03, the “Standard
		of Liability”).
		For the avoidance of doubt, but without limiting the provisions of
		Section 9.07, the provisions of this Section 3.03 shall not give rise
		to any obligation on the part of the Servicer to indemnify Genesis for any
		Taxes. Without limiting the foregoing, the Servicer shall not be directly or
		indirectly liable or accountable to Genesis or any Person in the Genesis Group
		under any circumstances for any Losses directly or indirectly arising out of,
		in connection with or related to, (i) the direct or indirect transfer of
		any Aircraft Assets or Leases related thereto or any other assets to any Person
		within the Genesis Group or outside of the Genesis Group, (ii) the
		adequacy of the terms of any Lease or other contract relating to any Aircraft
		Assets, (iii) the reliability or creditworthiness of any Lessee or other
		party to a contract with respect to its obligations under any Lease or any
		other contract relating to the Aircraft Assets, (iv) the adequacy of the
		lease payments derived from the Leases related to any Aircraft Assets of values
		or sales proceeds of Aircraft Assets to support various obligations of the
		Persons within the Genesis Group, or to pay any dividends or make other
		distributions to shareholders, (v) the adequacy of any utilization rents
		or other payments or security deposits relating to the Aircraft Assets,
		(vi) the terms and conditions of any securities or instruments being
		offered and sold by Genesis or any of its Affiliates as of the Closing Date (or
		thereafter) or pursuant to any Offering, (vii) the ability of Genesis or
		any other Person to comply with the terms and conditions of such securities or
		other instruments or any other agreement to which it is a party and (viii) the
		structuring and implementation of any aspect of the various transactions
		contemplated by any Offering, including the Final Prospectus.

	  

	 Section
		3.04. Waiver
		of Implied Standard. Except
		as expressly stated above in this Article III, ALL OTHER WARRANTIES,
		CONDITIONS AND REPRESENTATIONS, EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE,
		ARISING UNDER U.S. FEDERAL, DELAWARE, IRISH, CAYMAN ISLANDS, BERMUDAN OR OTHER
		LAW IN RELATION TO THE SKILL, CARE, DILIGENCE OR OTHERWISE IN RESPECT OF ANY
		SERVICE TO BE PERFORMED HEREUNDER OR TO THE QUALITY OR FITNESS FOR ANY
		PARTICULAR PURPOSE OR MERCHANTABILITY OF ANY GOODS OR SERVICES ARE HEREBY
		EXCLUDED AND WAIVED BY GENESIS AND EACH OTHER PERSON IN THE GENESIS GROUP, AND
		THE SERVICER SHALL NOT BE LIABLE TO GENESIS OR ANY OTHER PERSON WITHIN THE
		GENESIS GROUP OR ANY OTHER PERSON IN CONTRACT, TORT OR OTHERWISE UNDER U.S.
		FEDERAL, DELAWARE, IRISH, CAYMAN ISLANDS, BERMUDAN OR OTHER LAW FOR ANY LOSS,
		DAMAGE, EXPENSE OR INJURY OF ANY KIND WHATSOEVER, CONSEQUENTIAL OR OTHERWISE,
		ARISING OUT OF OR IN CONNECTION WITH EITHER

	  

	 
		
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	 THE
		SERVICES TO BE SUPPLIED PURSUANT TO THIS AGREEMENT OR ANY GOODS TO BE PROVIDED
		OR SOLD IN CONJUNCTION WITH SUCH SERVICES OR ANY DEFECT IN EITHER SUCH GOODS OR
		SERVICES OR FROM ANY OTHER CAUSE, WHETHER OR NOT ANY SUCH MATTER AMOUNTS TO A
		FUNDAMENTAL BREACH OF A FUNDAMENTAL TERM OF THIS AGREEMENT. Nothing in this
		Article III should be taken as in any way limiting or excluding any
		liability which the Servicer may have to Genesis under Section 2 of the
		Irish Liability for Defective Products Act, 1991.

	  

	 THE
		CONTRACTUAL RIGHTS, IF ANY, WHICH THE GENESIS GROUP ENJOYS BY VIRTUE OF
		SECTIONS 12, 13, 14 AND 15 OF THE SALE OF GOODS ACT, 1893 (AS AMENDED) AND
		SECTION 39 OF THE SALE OF GOODS AND SUPPLY OF SERVICES ACT, 1980 ARE IN NO WAY
		PREJUDICED BY ANYTHING CONTAINED IN THIS AGREEMENT SAVE TO THE EXTENT PERMITTED
		BY LAW.

	  

	 ARTICLE
		IV

	  

	 Representations
		and Warranties

	  

	 Genesis
		represents and warrants to, and agrees with, the Servicer as
		follows:

	  

	 Section
		4.01. Aircraft
		Assets.
		Schedule 4.01 contains a true and complete list of all Aircraft Assets
		constituting MSA Aircraft Assets as of the Closing Date and each Person within
		the Genesis Group, if any, that owns such MSA Aircraft Assets as of the Closing
		Date (which Schedule, along with Schedules 4.02 and 4.03 shall be updated,
		represented and warranted to by Genesis upon any Aircraft or Additional
		Aircraft becoming a MSA Aircraft Asset). Except as otherwise set forth therein,
		on the Delivery of each MSA Aircraft Asset listed in Schedule 4.01, each
		Person within the Genesis Group listed as an owner of a MSA Aircraft Asset on
		such Schedule will have such title to such MSA Aircraft Asset as was conveyed
		to such Person on its Delivery, free and clear of all Liens created by or
		through such Person.

	  

	 Section
		4.02. Aircraft
		Assets Related Documents.
		(a) The Servicer shall not be required to perform any service provided for
		in or in connection with any Aircraft Assets Related Documents not in its
		possession (all such Aircraft Assets Related Documents listed in
		Schedule 4.02 being in its possession) or delivered to it, and, to the
		extent that the failure to provide such service results in any Losses to the
		Servicer, Genesis shall indemnify the Servicer for such Losses on an After-Tax
		Basis, in accordance with the provisions of Article XI.

	  

	 (b) Each
		Aircraft Assets Related Document is a legal, valid and binding agreement of the
		Person within the Genesis Group that is a party thereto (including by way of
		assignment or novation) and is enforceable against such Person within the
		Genesis Group that is a party thereto in accordance with its terms. No Person
		within the Genesis Group has modified, amended or waived any provision of or
		terminated any MSA Aircraft Assets Related Document referred to in
		Schedule 4.02 except as disclosed therein.

	  

	 Section
		4.03. Accounts
		and Cash Flow.
		Schedule 4.03 sets forth a true and complete list of all bank or other
		similar accounts and any other accounts relating to the MSA Aircraft Assets,
		including wire transfer instructions, with respect to which any Person within
		the Genesis Group, the Security Trustee, the Administrative Agent or any other
		agent of any of the foregoing has authority. Genesis shall provide the Servicer
		in reasonable detail with a written description of all material arrangements
		and procedures relating to the flow of cash related to the MSA Aircraft Assets,
		including wire transfer instructions.

	  

	 
		
		  15
		

		
		  
		

		

		
 

	 

	  

	 Section
		4.04. Organization
		and Standing.

	  

	 (a) Genesis
		is a limited liability company duly created under the laws of Bermuda, and each
		other Person within the Genesis Group is a corporation duly incorporated, a
		trust duly created or a limited liability company duly formed and validly
		existing and, if relevant, in good standing under the laws of the jurisdiction
		in which it is legally incorporated, created or formed, respectively, and
		possesses all franchises, licenses, permits, authorizations and approvals
		necessary to enable it to use its corporate or trust name and to own, lease or
		otherwise hold its properties and assets and to carry on its business as
		presently conducted and as proposed to be conducted except for such franchises,
		licenses, permits, authorizations and approvals the failure of which to obtain
		could not, individually or in the aggregate, have a Material Adverse Effect on
		the Persons within the Genesis Group, taken as a whole, or on the Servicer.
		Each of Genesis and each other Person within the Genesis Group is in compliance
		in all material respects with all terms and conditions of such franchises,
		licenses, permits, authorizations and approvals. Schedule 4.04(a) sets
		forth a true and complete list of each Person within the Genesis Group and the
		jurisdiction in which each such Person within the Genesis Group is legally
		organized.

	  

	 (b) Each of
		Genesis and each other Person within the Genesis Group is duly qualified to do
		business as a foreign corporation in each jurisdiction in which the nature of
		its business or the ownership, leasing or holding of its properties or assets
		requires qualification except for such jurisdictions where the failure to be so
		qualified could not, individually or in the aggregate, have a Material Adverse
		Effect on the Persons within the Genesis Group, taken as a whole, or on the
		Servicer.

	  

	 Section
		4.05. Authority.
		(a) Each of
		Genesis and each other Person within the Genesis Group which is a party to an
		Operative Agreement has all requisite power and authority to execute each
		Operative Agreement to which it is or will be a party and to consummate the
		transactions and to perform its obligations contemplated thereby. All corporate
		acts and other proceedings required to be taken by each Person within the
		Genesis Group to authorize the execution, delivery and performance of each
		Operative Agreement to which it is or will be a party and the consummation of
		the transactions and the performance of its obligations contemplated thereby
		have been or on or before the date of entering into the relevant Operative
		Agreements will have been duly and properly taken.

	  

	 (b) Each of
		the Operative Agreements to which any Person within the Genesis Group is or
		will be a party has been or will be duly and validly executed and delivered by
		such Person, as applicable, and each such Operative Agreement is or upon such
		execution and delivery will be a legal, valid and binding obligation of such
		Person, as applicable, enforceable against it in accordance with its
		terms.

	  

	 Section
		4.06. No
		Conflicts.
		Neither the execution and delivery of any Operative Agreement to which any
		Person within the Genesis Group is a party nor the consummation of the
		transactions contemplated thereby nor performance by any Person within the
		Genesis Group of any of its obligations thereunder will (i) violate any
		provision of the constituent documents of any such Person within the Genesis
		Group, (ii) violate any order, writ, injunction, judgment or decree
		applicable to any Person within the Genesis Group or any of their respective
		properties or assets, (iii) violate in any material respect any Applicable
		Law or (iv) result in any conflict with, breach of or default (or give
		rise to any right of termination, cancellation or acceleration) under, any of
		the terms, conditions or provisions of any note, bond, mortgage, indenture,
		warrant or other similar instrument or any license, permit, material agreement
		or other material obligation to which any Person within the Genesis Group is a
		party or by which any Person within the Genesis Group or any of their
		respective properties or assets may be bound. No action, consent or approval
		by, or filing with, any Governmental Authority or any other regulatory or self
		regulatory body, or any other Person, is required in connection with the
		execution, delivery or

	  

	 
		
		  16
		

		
		  
		

		

		
 

	 

	  

	 performance
		by any Person within the Genesis Group of the Operative Agreements to which it
		is a party or the consummation by any Person within the Genesis Group of the
		transactions contemplated thereby.

	  

	 Section
		4.07. Compliance
		with Applicable Laws. Each
		of Genesis and each other Person within the Genesis Group is in compliance in
		all material respects with all Applicable Laws and any filing requirements
		relating thereto.

	  

	 Section
		4.08. Litigation;
		Decrees. (a)
		Other than in the case of subclause (i) as may exist with respect to the
		Original Aircraft on the Closing Date, or MSA Aircraft Assets which in good
		faith are believed by Genesis to be fully covered by insurance, there are no
		claims, actions, suits, arbitrations or other proceedings or investigations
		(i) pending or, to the best knowledge of each of Genesis and each other
		Person within the Genesis Group, threatened, by or against or affecting Genesis
		or any other Person within the Genesis Group, which in any case involves a
		potential loss exceeding $1,000,000 and (ii) pending, or to the best
		knowledge of each of Genesis and each other Person within the Genesis Group,
		threatened, by or against or affecting Genesis or any other Person within the
		Genesis Group, related to the transactions contemplated by the Operative
		Agreements.

	  

	 (b) Each of
		Genesis and each other Person within the Genesis Group is in compliance in all
		material respects with each outstanding judgment, order or decree (other than
		as may exist with respect to the Aircraft Assets) of any Governmental Authority
		or arbitrator applicable to Genesis or any other Person within the Genesis
		Group, as the case may be, and no such judgment, order or decree has or could
		have a Material Adverse Effect on Genesis or any other Person within the
		Genesis Group, or on the Servicer.

	  

	 Section
		4.09. Appointments. (a)
		Each MSA Person within the Genesis Group has appointed Genesis, and Genesis has
		accepted such appointment, to act as representative of each such Person with
		respect to any matter in respect of which Genesis or any other MSA Person
		within the Genesis Group is required or permitted to take any action pursuant
		to the terms of this Agreement.

	  

	 (b) Genesis
		has appointed the Administrative Agent to act on its behalf and on behalf of
		each of its Subsidiaries pursuant to the terms of the Administrative Agency
		Agreement and Genesis has appointed the Administrative Agent, on a revocable
		basis, to act on its behalf in connection with any action required or permitted
		to be taken by Genesis on its own behalf or on behalf of any other Person
		within the Genesis Group pursuant to the terms of this Agreement in the case of
		the Administrative Agent.

	  

	 The
		Servicer represents and warrants to Genesis as follows:

	  

	 Section
		4.10. Authority.
		(a)  The
		Servicer is a limited liability company duly created under the laws of Ireland,
		and, if relevant, in good standing under the laws of Ireland, and possesses all
		franchises, licenses, permits, authorizations and approvals necessary under the
		laws of Ireland to enable it to use its corporate name and to own, lease or
		otherwise hold its properties and assets and to carry on its business as
		presently conducted and as proposed to be conducted except for such franchises,
		licenses, permits, authorizations and approvals the failure of which to obtain
		could not, individually or in the aggregate, have a Material Adverse Effect on
		the Persons within the GFL Group, taken as a whole, or on the Servicer. The
		Servicer has all requisite power and authority to execute each Operative
		Agreement to which it is or will be a party and to consummate the transactions
		and to perform its obligations contemplated thereby. All corporate acts and
		other proceedings required to be taken by the Servicer to authorize the
		execution, delivery and performance of each Operative Agreement to which it is
		or will be a party and the consummation of the transactions and the performance
		of its obligations contemplated

	  

	 
		
		  17
		

		
		  
		

		

		
 

	 

	  

	 thereby
		have been or on or before the date of entering into the relevant Operative
		Agreements will have been duly and properly taken.

	  

	 (b) Each of
		the Operative Agreements to which the Servicer is or will be a party has been
		or will be duly and validly executed and delivered by the Servicer, as
		applicable, and each such Operative Agreement is or upon such execution and
		delivery will be a legal, valid and binding obligation of the Servicer,
		enforceable against it in accordance with its terms.

	  

	 Section
		4.11. No
		Conflicts.
		Neither the execution and delivery of any Operative Agreement to which the
		Servicer is a party nor the consummation of the transactions contemplated
		thereby nor performance by the Servicer of any of its obligations thereunder
		will (i) violate any provision of the constituent documents of the
		Servicer, (ii) violate any order, writ, injunction, judgment or decree
		applicable to the Servicer or any of its properties or assets,
		(iii) violate in any material respect any Applicable Law or
		(iv) result in any conflict with, breach of or default (or give rise to
		any right of termination, cancellation or acceleration) under, any of the
		terms, conditions or provisions of any note, bond, mortgage, indenture, warrant
		or other similar instrument or any license, permit, material agreement or other
		material obligation to which the Servicer is a party or by which the Servicer
		or any of its properties or assets may be bound. No action, consent or approval
		by, or filing with, any Governmental Authority or any other regulatory or
		self-regulatory body, or any other Person, is required in connection with the
		execution, delivery or performance by the Servicer of the Operative Agreements
		to which it is a party or the consummation by the Servicer of the transactions
		contemplated thereby.

	  

	 Section
		4.12. Compliance
		with Applicable Laws of Ireland. The
		Servicer is in compliance in all material respects with all Applicable Laws of
		Ireland and any filing requirements in Ireland relating thereto necessary to
		perform its obligations under this Agreement.

	  

	 Section
		4.13. Litigation;
		Decrees. (a)
		There are no claims, actions, suits, arbitrations or other proceedings or
		investigations pending, or to the best knowledge of the Servicer, threatened,
		by or against or affecting the Servicer related to the transactions
		contemplated by this Agreement.

	  

	 (b) The
		Servicer is in compliance in all material respects with each judgment, order or
		decree (other than may exist with respect to the Aircraft Assets) of any
		Governmental Authority or arbitrator applicable to the Servicer, and no such
		judgment, order or decree has or could have a Material Adverse Effect on
		Genesis or any Person within the Genesis Group, or on the
		Servicer.

	  

	 ARTICLE
		V

	  

	 Servicer
		Undertakings

	  

	 Section
		5.01. Access. The
		Servicer at such times as Genesis may reasonably request shall grant, and shall
		cause any Servicer Delegate to grant, to the Persons within the Genesis Group
		and their agents (including the Administrative Agent and auditors), to the
		extent party to confidentiality agreements acceptable to the Servicer, access
		to the documents and other records generated by the Servicer (and in its
		possession) as part of its performance of the Services (exclusive of internal
		correspondence, approval materials, internal evaluations and similar documents
		or other records developed by the Servicer or any of its Affiliates for their
		own use) or by a Lessee and delivered to the Servicer related to the Aircraft
		Assets (copies of which Genesis shall (at its expense) be entitled to take), to
		enable the Persons within the Genesis Group to monitor the performance by the
		Servicer under this Agreement or to otherwise discharge their respective
		obligations under Applicable Law (including applicable securities laws). Upon
		reasonable prior written notice and at reasonable times (in any event not more
		than an aggregate, with respect to the Genesis Group taken as a whole (but
		exclusive of GFL), of four (4) times per Year), the

	  

	 
		
		  18
		

		
		  
		

		

		
 

	 

	  

	 Servicer
		shall make one or more (such number to be determined by the Servicer in good
		faith but sole discretion) members of its management available to attend
		(including by telephone) meetings of the board of directors of Genesis. In
		addition, the Servicer will make one or more members of its management
		available to participate in additional meetings of such board of directors
		either, in the Servicer’s sole discretion, by participating in person or
		by teleconference. Any out-of-pocket expenses incurred by the Servicer in
		connection with any such attendance shall be reimbursed by
		Genesis.

	  

	 Section
		5.02. Compliance
		with Law. The
		Servicer shall, in connection with the performance of the Services, comply in
		all material respects with all laws, rules and regulations applicable to the
		Servicer.

	  

	 Section
		5.03. Commingling. The
		Servicer shall not commingle, with its own funds, any funds of any Person
		within the Genesis Group from time to time in its possession.

	  

	 Section
		5.04. Restrictions
		on Exercise of Certain Rights.
		Subject to the enforcement of its rights under any Financing Agreement, the
		Servicer shall not take any steps for the purpose of procuring the appointment
		of an administrative receiver or the making of any administrative order or for
		instituting any bankruptcy, reorganization, arrangement, insolvency, winding
		up, liquidation, composition or any similar proceeding under the laws of any
		jurisdiction with respect to any Person within the Genesis Group.

	  

	 Section
		5.05. Coordination
		with Genesis Group. The
		Servicer shall designate an individual who shall be an employee of the Servicer
		and who shall be primarily responsible for coordinating with Genesis and any
		other MSA Person regarding the Services, and the Servicer may from time to time
		change such designation by providing notice to Genesis of such
		change.

	  

	 Section
		5.06. Corporate
		Formalities. During
		the term of this Agreement, the Servicer will observe all corporate formalities
		necessary to remain a legal entity separate and distinct from, and independent
		of, each member of the Genesis Group and will maintain its assets, liabilities,
		funds, records, books and accounts separate and distinct from those of each
		member of the Genesis Group.

	  

	 ARTICLE
		VI

	  

	 Undertakings
		of Genesis

	  

	 Section
		6.01. Cooperation.
		Genesis shall, and shall cause each other MSA Person and their respective
		agents (including the Administrative Agent) to, at all times cooperate with the
		Servicer to enable the Servicer to provide the Services, including providing
		the Servicer with all powers of attorney as may be reasonably necessary or
		appropriate for the Servicer to perform the Services.

	  

	 Section
		6.02. No
		Representation with Respect to Third Parties.
		Genesis agrees that as between the Servicer, on the one hand, and each of
		Genesis and the other Person within the Genesis Group on the other hand, no
		representation is made as to the financial condition and affairs of any Lessee
		of, or purchaser of, any Aircraft Asset or any vendor or supplier utilized by
		or any other Person party to a contract with the Servicer or any Person within
		the Genesis Group in connection with Servicer’s performance of the
		Services.

	  

	 Section
		6.03. Related
		Document Amendments.
		Genesis shall not take, and shall not permit any other MSA Person to take, any
		action that would increase in any respect the scope, nature or level of the
		Services to be provided under this Agreement without the Servicer’s
		express prior written consent, including by entering into, amending, modifying
		or supplementing any Aircraft Assets Related Document (it being understood that
		(i) the Servicer shall have no liability to any Person directly or
		indirectly arising

	  

	 
		
		  19
		

		
		  
		

		

		
 

	 

	  

	 out of,
		in connection with or related to, the Servicer’s failure to perform such
		increased Service prior to any such amendment, modification or supplement being
		consented to in writing by the Servicer and (ii) no MSA Person shall be
		permitted to engage another Person to perform the affected Service without the
		prior written consent of the Servicer).

	  

	 Section
		6.04. Exclusivity. Except
		as otherwise expressly provided in Sections 2.04(b), 3.02(c) and 10.04 of this
		Agreement, Genesis shall not, and shall not permit any other MSA Person or any
		agent of any Person thereof (including the Administrative Agent) to, enter
		into, or cause or permit any Person (other than the Servicer or any Person
		acting for or on its behalf) to enter into on its behalf, (a) any
		transaction for the lease or sale of any Aircraft Asset in respect of which the
		Servicer is at such time performing Services or (b) any agreement for the
		performance by any Person other than the Servicer of some or all of the
		Services, in the case of (a) and (b) without the prior written
		consent of the Servicer.

	  

	 Section
		6.05. Communications.
		Genesis shall, and shall cause each other MSA Person and the Administrative
		Agent to, forward promptly to the Servicer a copy (or, if such communication is
		oral and from a Lessee in respect of an MSA Aircraft Asset or MSA Aircraft
		Asset purchaser, notify the Servicer by prompt oral or written notice and, if
		oral notice, confirmed in writing upon request) of any written communication
		received from any Person (including any Person under any Aircraft Assets
		Related Document) in relation to any MSA Aircraft Asset or oral communication
		received from a Lessee in respect of an MSA Aircraft Asset or MSA Aircraft
		Asset purchaser in relation to any MSA Aircraft Asset.

	  

	 Section
		6.06. Ratification.
		Genesis hereby ratifies and confirms and agrees to ratify and confirm (and
		shall cause each other MSA Person to do the same) (and shall furnish written
		evidence thereof upon request of the Servicer) whatever the Servicer does in
		accordance with this Agreement in the exercise of any of the powers or
		authorities conferred upon the Servicer under the terms of this
		Agreement.

	  

	 Section
		6.07. Additional
		Aircraft Assets. If any
		MSA Aircraft Asset shall become a Former Aircraft Asset pursuant to the
		provisions of Section 2.04 and thereafter the condition which caused such
		Former Aircraft Asset to cease to be a MSA Aircraft Asset shall no longer exist
		or the transaction entered into as contemplated by
		Section 2.04(b) shall terminate, then Genesis shall, and shall
		require each other MSA Person, as appropriate, to, cause, as and to the extent
		commercially feasible, such Former Aircraft Asset to become a MSA Aircraft
		Asset and the Servicer shall accept such Aircraft Asset as a MSA Aircraft
		Asset, such action to be confirmed by an exchange of correspondence to such
		effect.

	  

	 Section
		6.08. Execution,
		Amendment, Modification or Termination of Aircraft Assets Related
		Documents.
		(a) In connection with the acquisition of any Aircraft (other than any
		Former Aircraft Asset) which becomes a MSA Aircraft Asset, no later than ten
		Business Days prior to such Aircraft becoming a MSA Aircraft Asset, Genesis
		shall deliver a written notice thereof to the Servicer setting forth the model
		type and manufacturer’s serial number of such Aircraft and the Person in
		the Genesis Group which will become the owner of such Aircraft upon its
		acquisition, together with (x) a true and complete list all documents
		related to such Aircraft which will become Aircraft Assets Related Documents
		upon the acquisition of such Aircraft and (y) a true and complete copy of
		each document which will become an Aircraft Assets Related Document upon the
		acquisition of such Aircraft or, to the extent it has yet to be executed, the
		most current draft of such document (with a final executed copy to be delivered
		as promptly as practicable thereafter). Genesis will be deemed to represent and
		warrant to, and agree with, the Servicer on the date such Aircraft becomes a
		MSA Aircraft Asset that (i) the Person in the Genesis Group listed as the
		owner of such Aircraft in the written notice provided by Genesis will have such
		title to such Aircraft as was conveyed to such Person on its acquisition free
		and clear of all Liens created by or through such Person, (ii) each
		Aircraft Assets Related Document related to such Aircraft is a legal, valid and
		binding agreement of the Person in the Genesis Group that is a party thereto
		(including by way of

	  

	 
		
		  20
		

		
		  
		

		

		
 

	 

	  

	 assignment
		or novation) and is enforceable against such Person in the Genesis Group that
		is a party thereto in accordance with its terms and (iii) no Person in the
		Genesis Group has modified, amended or waived any provision of or terminated
		any Aircraft Assets Related Document referred to in such written notice
		provided by Genesis except as disclosed therein. The Servicer shall not be
		required to perform any services provided for in or in connection with any
		Aircraft Assets Related Documents not delivered to it, and, to the extent that
		the failure to provide such service results in any Losses to the Servicer,
		Genesis shall indemnify the Servicer for such Losses on an After-Tax Basis, in
		accordance with the provisions of Article XI.

	  

	 (b) No later
		than five Business Days after the date that (i) any agreement, instrument
		or other document becomes an Aircraft Assets Related Document (other than as
		contemplated in Section 6.08(a)) or (ii) any Aircraft Assets Related
		Document shall have been amended, modified or terminated, Genesis shall deliver
		written notice thereof to the Servicer together with (x) in the case of
		any newly executed Aircraft Assets Related Document, a true and complete copy
		of such Aircraft Assets Related Document, a list of all Aircraft Assets to
		which it relates and a description, in reasonable detail, of the relevance of
		such Aircraft Assets Related Document to such assets or (y) in the case of
		any amendment, modification or termination, a true and complete copy of any
		related agreement, instrument or other document; provided,
		however, that
		such notice or such document shall not be required to be delivered, but shall
		be delivered if the Servicer does not have possession of such notice or
		document, delivery is so requested by the Servicer and Genesis has possession
		of such notice or document, if the Servicer was substantially involved in the
		preparation and execution of such new, amended, modified or terminated
		agreement, instrument or other document.

	  

	 Section
		6.09. Access
		to Genesis Group Information. At all
		such times as the Servicer may reasonably request, Genesis shall cause each MSA
		Person and the Administrative Agent to grant, access to the Servicer and its
		agents to the books of account, documents and other records of such MSA Person
		(including “read only” and reporting access to the management
		information systems used by such MSA Persons), and to officers, directors (or
		trustees, as applicable) and employees of each MSA Person, or any such agent
		for the purposes of the Servicer’s performance of its obligations in
		respect of Aircraft Assets under this Agreement; provided,
		however, that
		MSA Persons shall have no obligation to provide information that does not
		relate to an MSA Aircraft Asset and is confidential or
		proprietary.

	  

	 Section
		6.10. Genesis
		Group Accounts and Cash Arrangements.
		(a) Genesis shall not, and shall not permit any other MSA Person or any
		agent thereof to, establish any new bank or similar account relating to the MSA
		Aircraft Assets or close any bank or similar account relating to the Aircraft
		Assets other than in accordance with the terms of a Financing Agreement or the
		Administrative Agency Agreement.

	  

	 (b) No MSA
		Person shall modify any arrangement with respect to any bank or similar account
		or the flow of cash in connection with the MSA Aircraft Assets other than in
		accordance with the terms of a Financing Agreement or the Administrative Agency
		Agreement.

	  

	 Section
		6.11. [Intentionally
		Left Blank].
		

	  

	 Section
		6.12. Further
		Assurances.
		Genesis agrees and shall cause each other MSA Person and their respective
		agents (including the Administrative Agent) to agree, that, at any time and
		from time to time, upon the written request of the Servicer, it will execute
		and deliver such further documents and do such further acts and things, after a
		reasonable period for review thereof, as the Servicer may reasonably request in
		order to effect the purposes of this Agreement.

	  

	 
		
		  21
		

		
		  
		

		

		
 

	 

	  

	 Section
		6.13. Guarantees.
		Genesis represents, warrants and agrees that it has full power and authority to
		bind each MSA Person to this Agreement and that each of such Persons is bound
		by this Agreement and will perform its obligations hereunder. In furtherance of
		the foregoing, but not in limitation thereof, Genesis agrees that it shall
		cause each other MSA Person with respect to which the Servicer so requests to
		execute and deliver an accession agreement, in form or substance reasonably
		acceptable to the parties hereto, pursuant to which such MSA Person becomes a
		party hereto or to execute and deliver a Genesis Group Guarantee in favor of
		the Servicer in the form attached hereto as Appendix B.

	  

	 Section
		6.14. Transfers
		of Funds.
		Genesis agrees and shall cause each other MSA Person and their respective
		agents (including the Administrative Agent), to cooperate with the Servicer to
		the extent necessary to cause funds to be transferred into or out of the
		various Bank Accounts in order for the various payments from Lessees to be
		applied, or to Lessees to be made, on a basis consistent with the instructions
		of such Lessees, subject in each case to the terms of the Leases and the rights
		and obligations of the lessors thereunder.

	  

	 Section
		6.15. Transfer
		of GFL; Directors.
		Genesis shall not, and shall not permit any Person in the Genesis Group to, (a)
		transfer any interest in any Securitization Vehicle, including GFL and WHCO, or
		any of its other Subsidiaries, to any Person that is a Competitor or that does
		not agree in a manner reasonably acceptable to the Servicer to be bound by the
		provisions of this Agreement applicable thereto or by the provisions of the
		WHCO Servicing Agreement or the applicable Securitization Servicing Agreement,
		as the case may be, or (b) take any action, including the voting of shares, or
		fail to take any action, so as to cause or permit a Representative of a
		Competitor to be a Representative of any Person in the Genesis Group. Genesis
		further agrees to cause each Person in the Genesis Group other than Genesis,
		but including WHCO, GFL and each other Securitization Vehicle, to effect
		corporate governance procedures that provide that on the occurrence of
		Competitor Control with respect to Genesis, the board of directors, members,
		trustees or other similar Persons, and not Genesis or any other Person in the
		Genesis Group, shall maintain the persons representing Genesis prior to such
		Competitor Control in such position until he or she needs to be replaced and
		shall elect as any replacement thereon or thereof a person selected by any such
		board of directors, members, trustees or other similar Persons (which
		replacement shall not be a Competitor). Without limiting any other right or
		remedy of the Servicer for breach of the foregoing provisions of this Section
		6.15 or of any other provision hereof, Genesis agrees that the Servicer cannot
		be adequately compensated by damages for a breach of the provisions of this
		Section 6.15 and that the Servicer shall be entitled to a court order of
		specific performance requiring Genesis to comply with each and every provision
		in this Section 6.15 and/or an injunction prohibiting Genesis from violating
		any provision of this Section 6.15, as the case may be, in addition to any and
		all other remedies, at law or in equity, to which Servicer may be entitled in
		connection with a breach of any provision of this Section.

	  

	 ARTICLE
		VII

	  

	 Genesis
		Group Responsibility

	  

	 Section
		7.01. Genesis
		Group Responsibility.
		Notwithstanding the appointment of the Servicer to perform the Services and the
		related delegation of authority and responsibility to the Servicer pursuant to
		this Agreement, each of Genesis and each other MSA Person shall continue to
		have and exercise through its board of directors or trustees, as the case may
		be, as applicable, real and effective central control and management of all
		matters related to its ongoing business, operations, assets and liabilities,
		subject to matters that are expressly the responsibility of the Servicer in
		accordance with the terms of this Agreement, and each of Genesis and each other
		MSA Person shall at all times conduct its separate ongoing business in such a
		manner that the same shall at all times be readily identifiable from the
		separate

	  

	 
		
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	 business
		of the Servicer. Matters with respect to which responsibility is not being
		delegated to the Servicer shall include but are not limited to the matters set
		forth in Schedule 7.01. Without limiting the generality of the foregoing,
		each of Genesis and each other Person within the Genesis Group expressly
		covenants and agrees as follows:

	  

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

	  

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

	  

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

	  

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

	  

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

	  

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

	  

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

	  

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

	  

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

	  

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

	  

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

	  

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

	  

	 Section
		7.02. Performance
		with Respect to Aircraft Assets.
		Genesis has directed the Servicer to, and the Servicer will, perform the
		Services in a manner that is intended to be consistent with maximizing the cash
		flows derived from the leases relating to the MSA Aircraft Assets over time,
		subject to the constraints imposed by the Financing Agreement and this
		Agreement and by seeking to achieve a balanced and diversified portfolio
		(including with respect to lessees, geography and lease term lengths),
		in

	  

	 
		
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	 all
		cases taking into account the then-existing and anticipated market conditions
		affecting the operating lease of used aircraft and the commercial aviation
		industry generally. Genesis understands and acknowledges the inherent
		uncertainty in determining market conditions at any point in time as well as
		the inherent limitations in anticipating market conditions from time to time.
		It is expressly understood that this Section 7.02 does not impose any
		higher or different standard of care or liability than is set forth in
		Article III.

	  

	 Section
		7.03. Lease
		Operating Budget; Aircraft Asset Expenses Budget.
		(a) Genesis shall adopt with respect to each year during the term of this
		Agreement during which there are MSA Aircraft Assets, in accordance with
		Sections 7.03(b), (c) and (d), (i) a single lease operating budget with
		respect to all MSA Aircraft Assets (the “Lease
		Operating Budget”)
		and (ii) a single budget with respect to the MSA Aircraft Asset expenses
		related to all MSA Aircraft Assets (the “Aircraft
		Asset Expenses Budget”).

	  

	 (b) In
		respect of each Year during the term of this Agreement during which there are
		MSA Aircraft Assets, it is understood that the Administrative Agent shall
		prepare on behalf of the Genesis Group, and not later than the October 31
		immediately preceding the commencement of such Year deliver to the Servicer
		(other than with respect to the fiscal year commencing January 1, 2007, if
		applicable), a proposed Lease Operating Budget and a proposed Aircraft Asset
		Expenses Budget for such Year together with reasonably detailed information
		regarding the assumptions underlying such proposed budgets.

	  

	 (c) In
		connection with the preparation of such proposed Lease Operating Budget and
		Aircraft Asset Expenses Budget, the Servicer shall provide the Administrative
		Agent, not later than the September 30 immediately preceding the commencement
		of such Year (other than with respect to the fiscal year commencing with the
		acquisition of the initial MSA Aircraft Assets, information in a form to be
		agreed from time to time relating to (i) MSA Aircraft Assets lease rates,
		Utilization Rent, Aircraft redelivery payments, and Deposits (including
		interest, if any, thereon), (ii) MSA Aircraft Assets downtime,
		(iii) direct technical expenditures (including any costs to be
		capitalized) relating to the MSA Aircraft Assets, (iv) indirect costs
		relating to insurance, legal, consulting and other similar expenses and
		(v) such other MSA Aircraft Assets expense related information as may be
		reasonably required to prepare such budgets, in each case including the
		assumptions relating thereto. The Servicer shall only be obligated to provide
		expense-related information to the Administrative Agent pursuant to this
		Section 7.03(c) to the extent that such information relates to the
		Services performed by the Servicer hereunder. Genesis shall ensure that the
		Administrative Agent is instructed to prepare each such proposed Lease
		Operating Budget and proposed Aircraft Asset Expenses Budget on a timely basis
		and that the Administrative Agent cooperates therewith.

	  

	 (d) After
		the delivery of such proposed Lease Operating Budget and Aircraft Asset
		Expenses Budget as described in Sections 7.03(b) and (c), the Servicer and the
		Administrative Agent shall review and discuss such proposed Lease Operating
		Budget and Aircraft Asset Expenses Budget and shall make such adjustments
		thereto as they shall deem appropriate, and the revised proposed Lease
		Operating Budget and proposed Aircraft Asset Expenses Budget in respect of any
		Year shall then be submitted no later than the December 1 preceding such Year
		to Genesis for its consideration and approval (other than with respect to the
		fiscal year commencing with the acquisition of the initial MSA Aircraft
		Assets). The approved Lease Operating Budget and Aircraft Asset Expenses Budget
		for any Year, as each may be amended or modified from time to time, shall
		hereinafter be referred to as the “Approved
		Budget”.
		Each Approved Budget shall be consistent with, and not in any manner reduce,
		limit or circumscribe, the delegation to the Servicer pursuant to this
		Agreement (including pursuant to Section 7.04) of a practical and workable
		level of autonomy, authority and responsibility with respect to the performance
		of the Services.

	  

	 
		
		  24
		

		
		  
		

		

		
 

	 

	  

	 (e) If
		Genesis does not adopt any Approved Budget for any Year as contemplated by
		Section 7.03(d) or if, after an Approved Budget is adopted, Genesis shall
		determine that any Changed Circumstances have occurred and are continuing, then
		Genesis shall instruct the Servicer and the Administrative Agent, on behalf of
		the Genesis Group, to review and, to the extent possible, revise the Lease
		Operating Budget and Aircraft Asset Expenses Budget in such a manner as to
		adequately address the concerns of Genesis and/or such Changed Circumstances
		(it being understood that, subject to the last sentence of
		Section 7.03(d), Genesis may instruct the Servicer not to proceed with a
		Lease Operating Budget and an Aircraft Asset Expenses Budget approved by
		Genesis if Genesis determines that any proposed revisions do not adequately
		address the concerns of Genesis and/or such Changed
		Circumstances).

	  

	 (f) Notwithstanding
		any other provision hereof, the Servicer shall have no liability for the
		failure of the Approved Budget for any Year to be achieved.

	  

	 Section
		7.04. Transaction
		Approval Requirements.
		(a) The Servicer shall not do any of the following without the express
		prior written approval of Genesis:

	  

	 (i) Except
		as otherwise required in accordance with the terms of any Lease, sell (or enter
		into any agreement to sell) or otherwise dispose of any MSA Aircraft Asset
		(excluding any sale or exchange of any Engine, parts or components thereof or
		aircraft or engine spare parts or ancillary equipment or devices furnished
		therewith) forming part of the MSA Aircraft Assets; provided,
		however, that
		the Servicer may transfer title or another interest in an MSA Aircraft Asset,
		or cause them to be subject to a lease, (x) to or in favor of a trust or
		an entity for the purpose of registering the Aircraft under the laws of an
		applicable jurisdiction or for tax or other regulatory purposes so long as a
		MSA Person retains the beneficial or economic ownership of the Aircraft,
		(y) from such trust or entity to a MSA Person or (z) within or among
		Genesis and any MSA Person without limitation, or in any case as required in
		accordance with the terms of any Lease in effect on the date of acquisition
		thereof.

	  

	 (ii) Enter
		into any new Lease (or any renewal or extension of an existing Lease, unless
		any such Lease being renewed or extended had previously been approved pursuant
		to this Section 7.04(a) or if any such Lease contains an extension option
		and such option is being exercised in accordance with the terms of such Lease)
		of MSA Aircraft Assets if the Lease shall not comply with all the applicable
		provisions of Financing Agreements applicable to the leasing of such MSA
		Aircraft Assets as set forth in Section 2.1 of Schedule 2.02(a) or if
		the Lease grants a purchase option in favor of the Lessee (it being agreed that
		a right of first refusal or right of first offer is not a purchase option for
		purposes hereof).

	  

	 (iii) Terminate
		any Lease or Leases to any single Lessee with respect to any MSA Aircraft
		Assets then having an aggregate depreciated net book value on the books of the
		applicable MSA Person(s) in excess of $100,000,000 unless such Lease or Leases
		is substituted or replaced by another substantially similar Lease or Leases
		with respect to such Aircraft Assets.

	  

	 (iv) Unless
		provided for in the then current Approved Budget (including the provisions of
		Section 7.03(e)), to make any capital expenditure for the purpose of
		effecting any optional improvement or modification of any MSA Aircraft Asset,
		including any optional conversion thereof from passenger to a freighter or
		mixed use aircraft, except for capital expenditures made in the ordinary course
		of business in connection with the sale or lease of a MSA Aircraft Asset, or
		enter into any contract for maintenance of any MSA Aircraft Asset if the costs
		to be incurred thereunder by the applicable MSA Person within the Genesis Group
		exceed the greater of (1) the estimated aggregate cost of the heaviest or
		most extensive maintenance

	  

	 
		
		  25
		

		
		  
		

		

		
 

	 

	  

	 check
		for the airframe and a total refurbishment and full restoration shop visit of
		the engines for Aircraft Assets of the type in question, in each case based on
		then prevailing industry rates in the United States or Europe, and (2) the
		amount of the available utilization rent or other payments or other collateral
		under the applicable Lease.

	  

	 (v) Issue
		any Guarantee on behalf of, or otherwise pledge the credit of (other than with
		respect to trade payables in the ordinary course of the Genesis Group’s
		business), any MSA Person, except for guarantees by Genesis or any other MSA
		Person of the obligations of any other MSA Person (including in connection with
		a Lease or the sale of a MSA Aircraft Asset), and, so long as the out-of-pocket
		cash payment or cash collateral deposit in respect thereof does not exceed
		$3,000,000 in any individual case (and not in the aggregate), any Lien or
		indebtedness created in favor of the issuer of a surety bond, letter of credit
		or similar instrument to be obtained by or for the benefit of any MSA Person in
		connection with the detention or repossession of a MSA Aircraft Asset or
		enforcement action under a Lease or removal of a Lien.

	  

	 (vi) Except
		as specifically contemplated by Schedule 2.02(a), on behalf of any MSA
		Person, enter into, amend or grant a waiver with respect to, any transaction
		with GE Capital or any of its Affiliates (including GE and its Affiliates),
		including for the acquisition, sale or lease of any MSA Aircraft Assets from or
		to, or the obtaining or provision of services by, any such Person (except for
		the acquisition, sale, exchange or lease of or services in respect of any
		Engine, parts or components thereof or aircraft or engine spare parts,
		components or ancillary equipment or devices furnished therewith).

	  

	 (vii) Incur on
		behalf of any other MSA Person any liability (actual or contingent) or cause
		any such liability to be incurred, except for a liability (A) contemplated
		in the then current Approved Budget, (B) arising out of, in connection
		with or related to a transaction of a type which is otherwise subject to
		approval under this Section 7.04 and is in fact so approved or, due to the
		existence of an exception, limitation or other carve out contained therein or
		in any definition therein, is not subject to approval under the relevant
		provision of this Section 7.04, (C) incurred in the ordinary course
		of the Genesis Group’s business, including, but not limited to,
		liabilities related to such matters specified in Schedule 7.04 so long as
		no individual (and not aggregate) net out-of-pocket cash expenditure exceeds
		$3,000,000, or (D) incurred pursuant to a Lease or sale of an Aircraft
		Asset, in entering into the Lease or sale contract or performing any
		obligations as lessor or seller thereunder; provided,
		however, that
		the exception contained in clause (C) above is not intended to override
		any other restriction contained in this Agreement (other than this
		clause (vii)) relating to the incurrence of any liability referred to in
		such clause (C).

	  

	 (viii) Enter
		into on behalf of Genesis or any other MSA Person, any order or commitment to
		acquire, or acquire on behalf of the Genesis Group, aircraft or, except as
		otherwise provided in Section 4(e) of Schedule 2.02(a), so long as no
		individual (and not aggregate) net (after credit for any exchanges, replacement
		or similar items) out-of-pocket cash purchase price exceeds $3,000,000,
		aircraft engines, except in the case of aircraft engines (A) in accordance
		with any Lease or for the benefit of a Lessee pursuant to a Lease or
		(B) to acquire a replacement engine for an Aircraft so long as the same is
		provided for in the then current Approved Budget;

	  

	 provided,
		however, that,
		before the Servicer shall effect (or cause to be effected) any optional
		improvement or modification of any MSA Aircraft Asset not permitted pursuant to
		any of the foregoing clauses (i) through (viii), or effect any optional
		conversion of any MSA Aircraft Asset from a passenger aircraft to a freighter
		or mixed-use aircraft that is not expressly provided for in the Approval Budget
		or

	  

	 
		
		  26
		

		
		  
		

		

		
 

	 

	  

	 purchase
		or otherwise acquire any Engines or parts not permitted pursuant to any of the
		foregoing clauses (i) through (viii), the Servicer shall request that
		Genesis deliver to the Servicer a certificate certifying that such action will
		not violate any agreement to which such MSA Person is a party or by which it is
		bound, such certificate to be delivered to the Servicer within seven Business
		Days after such request therefor, and the Servicer shall not undertake such
		action pending receipt of such certificate.

	  

	 (b) Any
		transaction entered into by the Servicer on behalf of any MSA Person (other
		than with other MSA Persons), including with GE or any of its Affiliates, shall
		be on an arm’s-length basis and on fair market value terms, unless
		otherwise agreed by Genesis on behalf of any such MSA Person.

	  

	 (c) The
		transaction approval requirements (the “Transaction
		Approval Requirements”)
		set forth in this Section 7.04 may only be amended by mutual agreement of
		the parties, and shall not in any event be amended to reduce, or circumscribe
		the delegation to the Servicer of, the level of autonomy, authority and
		responsibility contemplated by the Transaction Approval Requirements with
		respect to the performance of the Services. Any rejection by Genesis of any
		proposed transaction submitted to it by the Servicer pursuant to the
		Transaction Approval Requirements shall only be applicable to such portions of
		any such proposed transaction as are specifically required to be approved as
		set forth in Section 7.04(a).

	  

	 (d) Genesis
		shall provide the Servicer with a response confirming its approval or rejection
		of any proposed transaction submitted to it by the Servicer as promptly as
		practicable following its receipt of a proposal from the Servicer and in any
		event not more than three Business Days after receipt of such a proposal. In
		the event that the board of directors of Genesis, a duly authorized committee
		thereof or the Administrative Agent fails to approve of any transaction with
		respect to which an approval is required pursuant to the Transaction Approval
		Requirements and in respect of which the Servicer has submitted a reasonably
		detailed written proposal, Genesis shall provide a reasonably detailed written
		explanation for any such rejection to the Servicer simultaneously with
		notifying the Servicer of such rejection. The Servicer is not required to take
		any action with respect to any transaction for which approval was sought
		pending receipt of such explanation.

	  

	 Section
		7.05. Approved
		Budgets and Transaction Approval Requirements. Except
		as set forth in Section 7.04(a), no transaction entered into by the
		Servicer on behalf of any MSA Person in connection with the performance by the
		Servicer of the Services shall require the approval of any MSA Person or its
		board of directors or trustees, as applicable, or any committees thereof, or
		the Administrative Agent; provided,
		however, that
		nothing set forth in this Article VII shall prohibit the Servicer from
		seeking any approval or direction from Genesis with respect to any matter
		related to the Services or the Aircraft Assets to the extent that the Servicer
		believes to be appropriate and, pending the Servicer’s receipt of any such
		approval or direction, the Servicer may refrain from taking any action with
		respect to the matter for which the Servicer has sought approval or
		direction.

	  

	 ARTICLE
		VIII

	  

	 Effectiveness

	  

	 Section
		8.01. Effectiveness. The
		effectiveness of this Agreement and all obligations of the parties hereunder
		shall be conditioned upon satisfaction (or waiver by the appropriate party) of
		the conditions set forth in Schedule 8.01.

	  

	 ARTICLE
		IX

	  

	 
		
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	 Servicing
		Fees; Expenses; Taxes;

	 Priority
		of Servicing Fees

	  

	 Section
		9.01. Servicing
		Fees.
		(a) In consideration of the Servicer’s performance of the Services,
		Genesis agrees to pay to the Servicer servicing fees consisting of (i) the
		monthly base fee set forth in Section 9.02 (“Monthly
		Base Fee”),
		(ii) the rent fees set forth in Section 9.03 (“Rent
		Fees”),
		and (iii) the sales fee set forth in Section 9.04 (“Sales
		Fee”).

	  

	 (b) Genesis
		agrees to provide the Servicer (with a copy to the Administrative Agent) with
		any information in a timely manner that the Servicer may reasonably request to
		enable the Servicer to determine the timing and amount of any payment that the
		Servicer is entitled to receive pursuant to this Agreement.

	  

	 Section
		9.02. Monthly
		Base Fee. A
		Monthly Base Fee equal to 0.01% of the purchase price of each MSA Aircraft
		Asset , as of the date it becomes a MSA Aircraft Asset, shall be payable by
		Genesis to the Servicer in arrears on each Payment Date during the Term of this
		Agreement on which there are any MSA Aircraft Assets subject
		hereto.

	  

	 Section
		9.03. Rent
		Fees.
		(a) Rent Fees shall consist of the Rent Payable Fee and the Rent Collected
		Fee. The Rent Fees shall be calculated by the Servicer and payable by Genesis
		as follows:

	  

	 (i) A Rent
		Payable Fee shall be payable by Genesis to the Servicer in arrears for each
		period commencing on the date of the acquisition of the initial MSA Aircraft
		Asset hereunder (or, thereafter, the fourth Business Day prior to the most
		recent Calculation Date) and ending on the fourth Business Day prior to the
		next succeeding Calculation Date during the term of this Agreement on which
		there are any MSA Aircraft Assets subject hereto (each such period, a
		“Fee
		Period”),
		such payment to be made no later than the Payment Date immediately following
		the end of each such Fee Period.

	  

	 The
		“Rent
		Payable Fee”
		in respect of any Fee Period shall equal one percent (1.00%) of the aggregate
		amount of the Rents due from each Lessee in respect of MSA Aircraft Assets
		attributable to such Fee Period so long as such MSA Aircraft Asset remains
		subject to this Agreement, or portion of such Fee Period in which the relevant
		Aircraft constitutes a MSA Aircraft Asset; provided,
		however, that,
		in the event of an early termination of a Lease relating to any MSA Aircraft
		Asset for any reason (other than by reason of the occurrence of an event of
		loss or exercise of a purchase option), the Rents which would have been payable
		pursuant to such Lease but for such early termination will be included in this
		calculation of the Rent Payable Fee until the earlier of (a) the date on
		which Rents shall become payable in respect of such MSA Aircraft Asset pursuant
		to another Lease (the Rents of which shall be included in this calculation of
		the Rent Payable Fee) and (b) the day that numerically corresponds to the
		first date by which such MSA Aircraft Asset and related Aircraft Documents
		shall have been physically repossessed by the Servicer following such early
		termination in (or, if no such day exists, the last day of) the calendar month
		that is the third month after the month in which such date occurs.

	  

	 (ii) A Rent
		Collected Fee shall be payable by Genesis to the Servicer in arrears for each
		Fee Period, such payment to be made no later than the Payment Date immediately
		following the end of each such Fee Period.

	  

	 The
		“Rent
		Collected Fee”
		in respect of any Fee Period shall equal one percent (1.00%) of the aggregate
		amount of the Rents actually paid by each Lessee in respect of MSA Aircraft
		Assets so long as such MSA Aircraft Asset remains subject to this Agreement
		and, if any Lessee fails to pay any Rent when due, amounts applied towards such
		payment during such Fee Period or portion of such Fee Period in

	  

	 
		
		  28
		

		
		  
		

		

		
 

	 

	  

	 which
		the relevant Aircraft constitutes a MSA Aircraft Asset so long as such MSA
		Aircraft Asset remains subject to this Agreement; provided,
		however, that
		if any collateral security, including any security deposit, is applied to the
		payment of Rent, then, for purposes of calculating the Rent Collected Fee, the
		amounts so applied shall not be included as Rent at the time of such
		application but shall be so included at such time as any Person within the
		Genesis Group shall receive substitute collateral security or a payment
		(whether in the form of Rent or otherwise) which restores, in whole or in part,
		such collateral security.

	  

	 (b) Not less
		than four Business Days prior to each Payment Date immediately following the
		end of each Fee Period, the Servicer shall deliver a written notice to Genesis
		specifying the amount of the Rent Payable Fee and the amount of the Rent
		Collected Fee payable in respect of such Fee Period.

	  

	 Section
		9.04. Sales
		Fee.
		(a) A Sales Fee shall be payable with respect to each Fee Period by
		Genesis to the Servicer, such payment to be made not later than the Payment
		Date immediately following the end of each such Fee Period.

	  

	 (b) The
		“Sales
		Fee”
		in respect of any Fee Period shall equal one and one-half percent (1.50%) of
		the Aggregate Gross Proceeds in respect of Dispositions of MSA Aircraft Assets
		during such Fee Period. “Aggregate
		Gross Proceeds”
		for any Fee Period means the sum of the Gross Proceeds for each Disposition of
		an MSA Aircraft Asset that is an MSA Aircraft Asset during such Fee Period.
		“Disposition”
		means, with respect to any MSA Aircraft Asset, the sale (including pursuant to
		the exercise of a purchase option), total loss or other event or circumstances
		under which such MSA Aircraft Asset ceases to be an MSA Aircraft Asset.
		“Gross
		Proceeds”
		shall be an amount equal to the gross proceeds (including the fair market value
		of any non-cash consideration, but excluding any cash added to the purchase
		price of the applicable Aircraft Asset in respect of any Utilization Rent or
		Deposit) received by any Person within the Genesis Group in respect of any
		Disposition of an Aircraft Asset.

	  

	 (c) Not less
		than four Business Days prior to each Payment Date immediately following the
		end of each Fee Period, the Servicer shall deliver a written notice to Genesis
		specifying the amount of the Sales Fee payable in respect of such Fee
		Period.

	  

	 Section
		9.05. [Intentionally
		Left Blank].

	  

	 Section
		9.06. Expenses.
		(a) The Servicer shall be responsible for, and shall not be entitled to
		reimbursement for, the Servicer’s overhead expenses set forth in
		Schedule 9.06(a) (“Overhead
		Expenses”).

	  

	 (b) (i) Genesis
		shall be responsible for all costs and expenses relating to or associated with
		the MSA Aircraft Assets other than Overhead Expenses, including those costs and
		expenses set forth in Schedule 9.06(b) (“Aircraft
		Asset Expenses”).
		Nothing contained in this Section 9.06 shall be deemed to impose on the
		Servicer any obligation to advance any of its own funds for any MSA Aircraft
		Asset Expenses.

	  

	 (ii) If, in
		connection with the performance of Services, and without limiting the Genesis
		Group’s liability to pay for any goods and services as and when invoiced
		by the Servicer that are not required to be so paid in advance by the Servicer,
		the Servicer, on behalf of any Person within the Genesis Group, proposes to
		provide goods and services, or arrange for the provision of goods or services,
		from any vendor, supplier, service provider or other Person (A) for a purchase
		price in excess of U.S. $1,000,000 (or the equivalent thereof in the currency
		in which such obligation is payable) or (B) at any time when a default in
		respect of the payment of any amount due under this Agreement shall have
		occurred and be continuing, the Servicer may require Genesis to pay for such
		goods or services in 

	  

	 
		
		  29
		

		
		  
		

		

		
 

	 

	  

	 advance
		or otherwise make the funds for payment of such goods or services available to
		the satisfaction of the Servicer. If such advance payment is not made or such
		funds are not otherwise made available, notwithstanding any other provision in
		this Agreement, the Servicer shall be relieved of its obligation to provide or
		arrange for the provision of such goods or services in respect of the MSA
		Aircraft Assets for which such goods or services were to be provided but shall
		otherwise continue to manage such MSA Aircraft Assets as provided in this
		Agreement and shall continue to be entitled to receive the fees specified in
		Sections 9.01, 9.02, 9.03 and 9.04 in respect of such MSA Aircraft Assets. In
		such case, Genesis may provide or arrange for the provision of such goods or
		services in respect of such MSA Aircraft Assets.

	  

	 Section
		9.07. Taxes.
		(a) Genesis agrees to pay on an After-Tax Basis and to indemnify and hold
		harmless the Indemnified Parties on an After-Tax Basis from and against
		(i) all liability for Taxes of or imposed on the Taxpayers that are
		imposed on, or asserted to be payable by, any Indemnified Party as a result of
		the structuring and implementation of any aspect of the various transactions
		contemplated by the Final Prospectus or otherwise, regardless of whether such
		Taxes are attributable to a taxable period ending before, on or after the
		Closing Date, other than any such Taxes imposed on or payable by a Taxpayer in
		its capacity as a withholding agent in respect of amounts payable pursuant to
		this Agreement to an Indemnified Party and any Taxes imposed on or payable by a
		Taxpayer that, prior to the Closing Date, was an Affiliate of the Servicer to
		the extent attributable to the period on or prior to the Closing Date, and
		(ii) any liability for out-of-pocket fees, costs and expenses (including
		reasonable attorneys’ fees) arising out of or incident to any Tax
		indemnified hereunder. If any Taxes for which Genesis is to indemnify any
		Indemnified Party pursuant to the immediately preceding sentence are payable
		after the Closing Date, Genesis shall pay or cause to be paid to such
		Indemnified Party an amount calculated on an After-Tax Basis equal to the
		amount of such Taxes no later than the later of (x) five Business Days
		after such Indemnified Party gives notice to Genesis that such amount is due
		and specifying the date such Taxes are due and payable (the “Due
		Date”)
		and (y) one Business Day before the Due Date. Amounts described in
		clause (ii) shall be reimbursed on an After-Tax Basis not less frequently
		than quarterly. Any payment required to be made hereunder and not made at the
		time specified in the preceding two sentences shall bear interest at the
		Stipulated Interest Rate or such higher rate actually payable by such
		Indemnified Party on the delayed payment of the Taxes being indemnified,
		calculated from the date such payment was required to be made hereunder to the
		date such payment is actually received by the Indemnified Party.

	  

	 (b) All
		amounts payable by or on behalf of Genesis pursuant to this Agreement shall be
		payable exclusive of any applicable value added tax, which value added tax, if
		payable, shall also be payable, upon production of a valid value added tax
		invoice by the Servicer. All amounts payable to Genesis by an Indemnified Party
		pursuant to this Agreement shall be inclusive of value added tax save to the
		extent such Indemnified Party is entitled to recover (by way of repayment,
		credit or set off) the whole or any part of such value added tax. Where it is
		so entitled, at the request of Genesis, value added tax shall be payable in
		addition thereto on production of a valid value added tax invoice but payment
		of the value added tax element shall not fall due until the latest possible
		date before the date on which such Indemnified Party shall receive such
		repayment, credit or set off (and such Indemnified Party shall be obligated to
		use reasonable endeavors (taking into account its overall tax position) to
		obtain such repayment, credit or set off as soon as possible); provided,
		however, that,
		to the extent such payment of the value added tax element shall fall due prior
		to such date of receipt pursuant to Applicable Law, Genesis shall compensate
		such Indemnified Party at the Prime Rate for any resulting loss of the time
		value of funds. The Servicer shall act on Genesis’s behalf in processing
		any refund of value added tax and the Servicer and Genesis shall cooperate in
		good faith to file an application for relief from value added taxes on VAT form
		60A as soon as practicable after the date of this Agreement.

	  

	 (c) Genesis
		shall pay and indemnify and hold the Indemnified Parties harmless, on an
		After-Tax Basis, from all Taxes imposed, levied or assessed against or upon the
		Person in the Genesis

	  

	 
		
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	 Group or
		any Indemnified Parties by any Governmental Authority upon or with respect to
		any of the Operative Agreements or any payment pursuant thereto or resulting
		from the matters or activities described therein, other than (except to the
		extent required to make any payment on an After-Tax Basis) (i) payroll,
		social security and employment Taxes of such Indemnified Party and any Taxes
		that are based on or measured by the net income, net receipts, net profits, net
		worth, franchise or conduct of business of such Indemnified Party,
		(ii) any Taxes payable by such Indemnified Party pursuant to the
		controlled foreign corporation provisions or the passive foreign investment
		company provisions of the U.S. Internal Revenue Code of 1986, as amended (the
		“Code”),
		or any successor provision, (iii) any Taxes payable by an Indemnified
		Party (other than stamp, documentary or other similar taxes), which Taxes are
		imposed by Ireland or the United States of America or any political subdivision
		of either, or any other jurisdiction, to the extent such Taxes would not have
		been imposed but for any connection of the Indemnified Party or any Affiliate
		thereof with the jurisdiction imposing such Taxes (other than any such
		connection that results from activities of such Indemnified Party or any
		Affiliate which activities are located in such jurisdiction by reason of the
		location of (x) a specific lessee or sublessee of any Person within the
		Genesis Group (or, with respect to any Original Aircraft, the owner),
		(y) an Aircraft or any part thereof or (z) any other Person (other
		than any Indemnified Party) with whom any Person within the Genesis Group (or,
		with respect to any Original Aircraft, the owner) may be engaging, or
		contemplating engaging, in a commercial relationship), (iv) Taxes
		attributable to events or conditions arising after the termination or
		expiration of this Agreement and (v) Taxes imposed as a result of the
		gross negligence or willful misconduct of any Indemnified Party. All Taxes with
		respect to which Genesis has an indemnification responsibility under this
		Section 9.07 shall be paid not later than the date such Taxes shall be due
		unless and to the extent, in the case of Taxes that do not burden any of the
		assets or property of any Indemnified Party and are assessed solely upon a
		Person or Persons within the Genesis Group, such Person or Persons within the
		Genesis Group shall be contesting such Taxes in good faith by appropriate
		proceedings, in which case such Taxes, or so much thereof as are being
		contested and are unpaid, shall be paid promptly upon a final determination
		that such Taxes, are due and payable. In the event any Taxes with respect to
		which Genesis has an indemnification responsibility under this
		Section 9.07 are levied on any Indemnified Party, or any Indemnified Party
		is required by law or otherwise to pay any such Taxes in the first instance or
		as a result of a Person or Persons within the Genesis Group’s failure to
		comply with, or nonperformance in relation to, any Applicable Law or
		regulations governing the payment thereof by such Person or Persons within the
		Genesis Group, Genesis shall pay to such Indemnified Party the full amount
		thereof on an After-Tax Basis within five Business Days after receipt from such
		Indemnified Party of any written request for such payment but not later than
		the due date for such Taxes. Any payment required to be made hereunder and not
		made at the time specified under this Section 9.07 shall bear interest at
		the Stipulated Interest Rate or such higher rate actually paid by such
		Indemnified Party on the delayed payment of the Taxes being indemnified,
		calculated from the date such payment was required to be made hereunder to the
		date such payment is actually received by such Indemnified Party.

	  

	 (d) If any
		claim or demand is asserted in writing with respect to a Tax indemnified
		hereunder, such Indemnified Party shall in good faith notify Genesis of such
		claim or demand within 10 days of receipt thereof; provided,
		however, that
		failure to give such notification shall not affect such Indemnified
		Party’s entitlement to indemnification hereunder unless such failure shall
		materially and adversely prejudice the ability of Genesis to defend itself or
		any Indemnified Party against any such action, claim, demand, proceeding or
		suit. If Genesis shall so request within 30 days after receipt of such notice,
		such Indemnified Party shall in good faith at Genesis’s expense contest
		the imposition of such Tax; provided,
		however, that
		such Indemnified Party may in its sole discretion select any applicable forum
		for such contest and determine whether any such contest shall be by
		(i) resisting payment of such Tax, (ii) paying such Tax under protest
		or (iii) paying such Tax and seeking a refund thereof; provided further,
		however, that
		at such Indemnified Party’s option such contest shall be conducted by
		Genesis in the name of such Indemnified Party (subject to the preceding
		proviso) (it being understood that Genesis shall not be permitted to contest
		the imposition of such Tax in the name of such Indemnified Party 

	  

	 
		
		  31
		

		
		  
		

		

		
 

	 

	  

	 without
		the prior written consent of such Indemnified Party). In no event shall such
		Indemnified Party be required or Genesis be permitted by such Indemnified Party
		to contest the imposition of any Tax for which Genesis is obligated to
		indemnify pursuant to this Section 9.07 unless (i) such Indemnified
		Party shall have received from Genesis (A) an indemnity reasonably satisfactory
		to such Indemnified Party for any liability, expense or loss arising out of or
		relating to such contest and (B) an opinion of tax counsel to Genesis
		furnished at the expense of Genesis to the effect that a reasonable basis
		exists for contesting such claim; (ii) Genesis shall have agreed to pay
		such Indemnified Party on demand all reasonable costs and expenses that such
		Indemnified Party may incur in connection with contesting such claim (including
		all costs, expenses, losses, reasonable legal and accounting fees,
		disbursements, penalties, interest and additions to tax); (iii) Genesis
		shall be in compliance with all of its payment obligations under this Agreement
		and shall have acknowledged, in a manner reasonably satisfactory to the
		Servicer, its liability hereunder to indemnify the Indemnified Parties in
		respect of such Tax; (iv) such Indemnified Party shall have determined
		that the action to be taken will not result in a material risk of sale,
		forfeiture or loss of, or the creation of any Lien (except if Genesis shall
		have adequately bonded such Lien or otherwise made provision to protect the
		interests of such Indemnified Party in a manner reasonably satisfactory to such
		Indemnified Party) on any property or rights of such Indemnified Party, or any
		portion thereof or any interest therein; and (v) if such contest shall be
		conducted in a manner requiring the payment of the claim, shall have paid the
		amount required. Notwithstanding anything contained in this Section 9.07,
		an Indemnified Party shall not be required nor shall Genesis be permitted by
		such Indemnified Party to contest or continue to contest in the name of an
		Indemnified Party the imposition of any Tax for which Genesis is obligated to
		indemnify pursuant to this Section 9.07 if such an Indemnified Party shall
		waive in writing its rights to indemnification under this Section 9.07
		with respect to such Tax. 

	  

	 (e) If any
		Indemnified Party shall obtain a refund of all or any part of any Tax paid by
		Genesis such Indemnified Party shall, provided no Event of Default, or default
		by Genesis in the payment of any amount due hereunder, has occurred and is
		continuing, pay Genesis an amount equal to the amount of such refund, including
		interest received or credited and attributable thereto, plus any net Tax
		benefit (or minus any net Tax detriment) realized by such Indemnified Party as
		a result of a payment made pursuant to this sentence or as a result of the
		receipt or accrual of such refund, including interest received or credited and
		attributable thereto. If any Indemnified Party shall have paid Genesis any
		refund of all or part of any Tax paid by Genesis and it is subsequently
		determined that such Indemnified Party was not entitled to the refund, such
		determination shall be treated as the imposition of a Tax for which Genesis is
		obligated to indemnify such Indemnified Party pursuant to the provisions of
		Section 9.07 hereof.

	  

	 Section
		9.08. Priority
		of Payments to Servicer. Any
		and all amounts due and owing to the Servicer or any of its Affiliates
		(including any amounts due and owing to the Servicer or any of its Affiliates
		with respect to indemnification) pursuant to this Agreement shall be general
		corporate obligations of Genesis and all other MSA Persons; provided, however, that
		in the event any MSA Person becomes a party to any Financing Agreement such
		amounts shall be entitled to the highest level of payment and Lien priority
		available under any such Financing Agreements applicable to any MSA Person,
		which priority Genesis agrees not to amend or permit to be amended without the
		consent of the Servicer. 

	 
		 

		
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	 ARTICLE
		X

	  

	 Term;
		Right to Terminate; Resignation;

	 Consequences
		of Expiration, Termination,

	 Resignation
		or Removal; Certain Tax Matters; Survival

	  

	 Section
		10.01. Term. This
		Agreement shall have a non-cancelable term commencing on the Closing Date and
		expiring on ________, 2021. During the term, this Agreement shall not be
		terminable by either party except as expressly provided in this Article X
		or otherwise as the parties hereto may agree between themselves (with neither
		party being under any obligation to negotiate in good faith or otherwise or
		agree on any early termination hereof).

	  

	 Section
		10.02. Right
		to Terminate. (a)
		(i) At any time during the term of this Agreement, the Servicer shall in
		accordance with Section 10.02(c) be entitled to terminate this Agreement
		if:

	  

	 (A) Genesis
		shall fail to pay in full when due (1) any Servicing Fees within five days
		after the receipt of written notice from the Servicer of such failure or
		(2) any other amount payable by Genesis hereunder or under any other
		Operative Agreement within ten days after the receipt of written notice from
		the Servicer of such failure; or

	  

	 (B) any
		Person within the Genesis Group shall fail to perform or observe or shall
		violate in any material respect any material term, covenant, condition or
		agreement to be performed or observed by it in respect of this Agreement or any
		other Operative Agreement (other than with respect to payment obligations of
		Genesis referred to in clause (a)(i)(A) of this Section 10.02);
		or

	  

	 (C) any
		material representation or warranty by any Person within the Genesis Group made
		in this Agreement or any other Operative Agreement or in any report,
		certificate, financial statement or other agreement, instrument or document at
		any time furnished by or on behalf of any Person within the Genesis Group in
		connection therewith shall prove to have been false or misleading in any
		material respect when made or furnished and such representation or warranty
		shall remain false and misleading in any material respect and such
		misrepresentation or breach of warranty is reasonably likely to have a Material
		Adverse Effect on the Servicer or a material adverse effect on the rights and
		obligations of the Servicer under this Agreement (including the Servicer’s
		compensation hereunder); or

	  

	 (D) an
		involuntary proceeding shall be commenced or an involuntary petition shall be
		filed in a court of competent jurisdiction seeking relief in respect of Genesis
		or any Significant Subsidiary of Genesis or of a substantial part of the
		property or assets of any of such Persons, under Title 11 of the United States
		Code, as now constituted or hereafter amended, or any other U.S. Federal or
		state or non-U.S. bankruptcy, insolvency, receivership or similar law, and such
		proceeding or petition shall continue undismissed for 75 days or an order or
		decree approving or ordering any of the foregoing shall be entered or any such
		Persons within the Genesis Group shall go into liquidation, suffer a receiver
		or mortgagee to take possession of all or substantially all of its assets or
		have an examiner appointed over it or if a petition or proceeding is presented
		for any of the foregoing and not discharged within 75 days; or

	  

	 (E) Genesis
		or any Significant Subsidiary of Genesis shall (i) voluntarily commence
		any proceeding or file any petition seeking relief under Title 11 of the United
		States Code, as now constituted or hereafter amended, or any other U.S. Federal
		or state or non-U.S. bankruptcy, insolvency, receivership or similar law,
		(ii) consent to the institution of, or fail to

	  

	 
		
		  33
		

		
		  
		

		

		
 

	 

	  

	 contest
		the filing of, any petition described in clause (D) above, (iii) file
		an answer admitting the material allegations of a petition filed against it in
		any such proceeding, or (iv) make a general assignment for the benefit of
		its creditors; or

	  

	 (F) there
		shall cease to be any Aircraft Assets owned by any Person within the Genesis
		Group; or

	  

	 (G) [Intentionally
		Left Blank]; or

	  

	 (H) any
		Guarantee issued in favor of the Servicer shall cease to be a legal, valid and
		binding agreement of the relevant Person within the Genesis Group, enforceable
		in accordance with its terms, and such cessation is not cured or remedied
		within thirty (30) days of the occurrence thereof; or 

	  

	 (I) Competitor
		Control exists, and Genesis and the Servicer have been unable, or Genesis is
		unwilling, to restructure this Agreement and the Services provided hereunder,
		including the providing or use of information relating to the Aircraft Assets,
		in a manner that the Servicer in good faith but sole discretion deems
		acceptable.

	  

	 (ii) Upon the
		occurrence of an event set forth in clause (i) of this
		Section 10.02(a), in addition to the right of the Servicer to terminate
		this Agreement in whole pursuant to Section 10.02(a)(i), the Servicer
		shall be entitled to terminate its obligations to provide the Services with
		respect to one or more specific Aircraft Assets (but less than all the Aircraft
		Assets) (any termination with respect to less than all the Aircraft Assets
		being a “Partial
		Termination”).
		If, upon any such Partial Termination, the Servicer shall elect to continue to
		provide Services with respect to any Aircraft Asset, the Servicer shall specify
		the Aircraft Assets in respect of which it intends to continue to provide
		Services in the Termination Notice with respect to the Partial Termination. All
		references to the expiration or termination of this Agreement shall mean the
		expiration or termination of this Agreement in whole and not to a Partial
		Termination unless expressly otherwise stated.

	  

	 (b) At any
		time during the term of this Agreement, Genesis shall be entitled to terminate
		this Agreement if:

	  

	 (i) neither
		GE nor GE Capital shall own directly or indirectly at least 50.01% of the
		voting equity of, and economic interest in, the Servicer or any Servicer
		Delegate; or

	  

	 (ii) the
		Servicer shall (A) fail in any material respect to perform any material
		Services in accordance with the Standard of Care or the Conflicts Standard and
		such failure shall have a Material Adverse Effect on the Genesis Group taken as
		a whole or a Material Adverse Effect on the rights and obligations of the
		Genesis Group taken as a whole under this Agreement; or (B) fail in any
		material respect to perform any material Services which failure results in
		liability of the Servicer under its Standard of Liability and such failure
		shall have a Material Adverse Effect on the Genesis Group taken as a whole or a
		Material Adverse Effect on the rights and obligations of the Genesis Group
		taken as a whole under this Agreement; or

	  

	 (iii) an
		involuntary proceeding shall be commenced or an involuntary petition shall be
		filed in a court of competent jurisdiction seeking relief in respect of GE, GE
		Capital or the Servicer or any Servicer Delegate, or of a substantial part of
		the property or assets of the Servicer, under Title 11 of the United States
		Code, as now constituted or hereafter amended, or any other U.S. Federal or
		state or non-U.S. bankruptcy, insolvency, receivership or similar
		law,

	 
		 

		
		  
			 34
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 and such
		proceeding or petition shall continue undismissed for 75 days or an order or
		decree approving or ordering any of the foregoing shall be entered or the
		Servicer shall go into liquidation, suffer a receiver or mortgagee to take
		possession of all or substantially all of its assets or have an examiner
		appointed over it or if a petition or proceeding is presented for any of the
		foregoing and not discharged within 75 days; or

	  

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

	  

	 (v) [Intentionally
		Left Blank]; or 

	  

	 (vi) following
		the cessation of all dividends and other distributions to shareholders of
		Genesis for a period of at least sixty (60) days, at least 15% of all Aircraft
		Assets shall not be subject to Leases and each such Aircraft Asset shall have
		been off-lease and reasonably available for re-lease (which, for purposes of
		clarification, shall mean that such Aircraft Asset shall be in the possession
		or under the unfettered control of the Servicer, together with the related
		Aircraft Documents, shall be free of any legal prohibition on the re-leasing
		thereof, shall be free of Liens (other than Liens, if any, created pursuant to
		the Financing Agreement or created by or at the instruction of the Servicer)
		and shall be in a condition reasonably acceptable to a potential lessee) during
		the three-month period following the date of the last payment of dividends or
		other distribution to Shareholders.

	  

	 (c) (i) Either
		party to this Agreement (the “Terminating
		Party”)
		may, at any time during the term of this Agreement, by written notice (the
		“Termination
		Notice”)
		to the other (the “Nonterminating
		Party”),
		set forth its determination to terminate this Agreement pursuant to
		clause (a) of this Section 10.02 (in the case of the Servicer) or
		Section 10.01 or clause (b) of this Section 10.02 (in the case
		of Genesis) or to provide for a Partial Termination of this Agreement pursuant
		to clause (a)(ii) of this Section 10.02 (in the case of the
		Servicer); provided,
		however, that
		failure by the Terminating Party to provide such Termination Notice shall not
		affect such party’s rights under Section 10.02(a) or
		Section 10.01 or Section 10.02(b), as the case may be. Any
		Termination Notice shall set forth in reasonable detail the basis for such
		termination.

	  

	 (ii) Unless
		the Termination Notice is provided by Genesis pursuant to
		Section 10.02(b)(i), (b)(iii), (b)(iv), (b)(v) or (b)(vi), or by the
		Servicer pursuant to Section 10.02(a)(i)(A) (after the applicable period
		provided in such Section), (D), (a)(i)(E), (a)(i)(F), (a)(i)(G), (a)(i)(H), or
		(a)(i)(I) (each a “Non-Curable
		Termination Event”),
		no later than the fifth day following the effectiveness of the Termination
		Notice (the “Effectiveness
		Date”),
		the Nonterminating Party shall advise the Terminating Party in writing whether
		the Nonterminating Party (A) intends to cure the basis for such
		termination and, if so, the action it intends to take to effectuate such cure
		or (B) does not intend to cure the basis for such termination;
		provided,
		however, that
		the failure of the Nonterminating Party to deliver such notice by such day
		shall be deemed to constitute notice that it does not intend to cure the basis
		for termination. In the event that the Termination Notice is provided for a
		Non-Curable Termination Event or the Nonterminating Party notifies (or is
		deemed to have notified) the Terminating Party that the Nonterminating Party
		does not intend to cure the basis for such termination, then this Agreement
		shall terminate or the Partial Termination shall take effect, as the case may
		be, (x) immediately in the case of a termination due to Competitor Control
		where a Competitor holds control or beneficial ownership, directly

	 
		 

		
		  
			 35
		  

		  
			 
		  

		  

		  
 

		

		 
 

	  or
		indirectly, of 50% or more of any class of securities of Genesis, (y) at
		the end of the cure period in the case of a termination pursuant to
		Section 10.02(a)(i)(A), and (z) in all other cases, one hundred
		twenty (120) days following the effectiveness of the Termination Notice (except
		that if a termination pursuant to Section 10.02(a)(i)(I) has occurred, and
		a tender for the securities of Genesis occurs in connection therewith, then
		this Agreement shall terminate or the Partial Termination shall take effect on
		the earlier of one hundred eighty (180) days following the effectiveness of the
		Termination Notice or the date such tender is consummated), or on such later
		date as the Terminating Party shall have indicated in the Termination Notice to
		the Nonterminating Party. Except in the case of a termination under
		Section 10.02(a)(i)(A) (in which case the cure period shall consist only
		of the period in such Section), in the event that the Nonterminating Party
		notifies the Terminating Party by such fifth day that it intends to cure the
		basis for such termination, then the Nonterminating Party shall (A) have
		15 days from the Effectiveness Date to effectuate such cure to the reasonable
		satisfaction of the Terminating Party or (B) if such cure cannot
		reasonably be expected to be effectuated within such 15-day period and it is
		not a payment default, (1) demonstrate to the reasonable satisfaction of
		the Terminating Party that substantial progress is being made toward the
		effectuation of such cure and (2) effectuate such cure to the reasonable
		satisfaction of the Terminating Party no later than the thirtieth day following
		the Effectiveness Date. Upon the failure of the Nonterminating Party to
		effectuate a cure in accordance with the immediately preceding sentence, this
		Agreement shall terminate or the Partial Termination shall take effect, as the
		case may be, on the latest of (A) the day immediately following the expiration
		of one hundred twenty (120) days after such 15- or 30-day period, or
		(B) such later date as shall be indicated in the Termination
		Notice.

	  

	 Section
		10.03. Resignation
		or Removal.
		(a) If the Servicer reasonably determines that (x) directions given by any
		Person to the Servicer in accordance with this Agreement are or would be if
		carried out or (y) Services required to be performed under this Agreement
		are or would be if carried out (i) unlawful under Applicable Law,
		(ii) in violation of any GE Policy, (iii) likely to lead to an
		investigation by any Governmental Authority, directly or indirectly, of or
		relating to the Servicer, any of its Affiliates or the Services,
		(iv) directions or Services that would expose the Servicer to any
		liabilities for which adequate bond or indemnity has not, in the
		Servicer’s good faith opinion, been provided or (v) directions or
		Services that would place the Servicer in a conflict of interest with respect
		to which, in the Servicer’s good faith opinion, the Servicer cannot
		continue to perform its obligations hereunder within the requirements set forth
		in Article III with respect to all Aircraft Assets or any affected
		Aircraft Assets, as the case may be, it may resign as the Servicer for all
		purposes under this Agreement in relation to all the Aircraft Assets or, at its
		election, any affected Aircraft Assets (but with respect to clause (v)
		above the Servicer may resign only with respect to the affected Aircraft) for
		the duration of this Agreement, such resignation to become effective on the one
		hundred twentieth (120th) days after the date of the Servicer’s notice to
		Genesis of such resignation (it being understood that, notwithstanding any
		other provision herein to the contrary, the Servicer shall be under no
		obligation to follow such directions or perform such Services pending the
		effectiveness of such resignation).

	  

	 (b) If
		Genesis shall have received a notice from the Servicer pursuant to
		Section 3.02(d) hereof to the effect that the Servicer cannot continue to
		perform its obligations hereunder within the requirements set forth in
		Section 3.02 with respect to all Aircraft Assets or any affected Aircraft
		Assets, Genesis may remove the Servicer for all purposes under this Agreement
		in relation to the affected Aircraft Assets or, in the event that the Servicer
		has notified Genesis that the Servicer cannot continue to perform its
		obligations with respect to all Aircraft Assets, all the Aircraft Assets for
		the duration of this Agreement, such removal to become effective upon one
		hundred twenty (120) days notice thereof (it being understood that,
		notwithstanding any other provision herein to the contrary, the Servicer shall
		be under no obligation to perform Services with respect to the affected
		Aircraft Assets pending the effectiveness of such resignation).

	 
		 

		
		  
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	 (c) If any
		Taxes that are based on or measured by all or a portion of the revenues, rental
		income or assets of any Person within the Genesis Group (other than
		(i) any Taxes payable by any such Person pursuant to the controlled
		foreign corporation provisions or the passive foreign investment company
		provisions of the Code or (ii) Taxes imposed as a result of the gross
		negligence or willful misconduct of any such Person) shall be imposed on or
		with respect to the Servicer or any Affiliate thereof, and if such Taxes are
		not indemnified by Genesis then, provided that the Servicer shall have
		undertaken reasonable efforts (that do not involve any material cost to the
		Servicer or any Affiliate thereof) to otherwise avoid the imposition of such
		Taxes, the Servicer may resign as the Servicer for all purposes under this
		Agreement in relation to all the Aircraft Assets or, at its election, any
		Aircraft Assets the resignation with respect to which would reduce or eliminate
		such Taxes for the duration of this Agreement, such resignation to become
		effective upon one hundred twenty (120) days notice thereof; provided,
		however, that
		pending the effectiveness of such resignation, Genesis shall be required to
		post a bond, irrevocable letter of credit or other form of security reasonably
		acceptable to the Servicer to be drawn upon by the Servicer in the event that
		any such additional Taxes continue to be imposed on or with respect to the
		Servicer or any Affiliate thereof during such pendency.

	  

	 Section
		10.04. Consequences
		of Expiration, Termination, Resignation or Removal.

	  

	 (a) Notices. (i)
		Upon the expiration or termination of this Agreement in accordance with this
		Article X, or upon the resignation by or removal of the Servicer with
		respect to the performance of the Services for any or all of the Aircraft
		Assets, the Servicer will promptly forward to Genesis any notices, reports and
		communications received by it from any relevant Lessee during the one year
		immediately after expiration, termination, resignation or removal.

	  

	 (ii) Genesis
		will notify promptly each relevant Lessee and any relevant third party (with a
		copy to each Rating Agency) of the termination, resignation or removal of the
		Servicer under this Agreement in relation to any of the Aircraft Assets and
		will request that all such notices, reports and communications thereafter be
		made or given directly to the Replacement Servicer and Genesis.

	  

	 (b) Accrued
		Rights. A
		termination, resignation or removal in relation to any or all the Aircraft
		Assets shall not affect the respective rights (including as to fees) and
		liabilities of either party accrued prior to such termination in respect of any
		prior breaches hereof or otherwise.

	  

	 (c) [Intentionally
		Left Blank].

	  

	 (d) Payment
		of Fees and Expenses. (i)
		Upon the expiration or termination of this Agreement in accordance with this
		Article X, or upon the resignation or removal of the Servicer with respect
		to the performance of the Services for any Aircraft Asset, so long as the
		Servicer is continuing to perform any of the Services, Genesis shall continue
		to pay Servicing Fees and reimbursable Aircraft Asset Expenses to the Servicer
		until the effectiveness of such resignation.

	  

	 (ii) If an
		Aircraft Asset is sold by any Person within the Genesis Group to a customer to
		whom the Servicer had been actively engaged in marketing such Aircraft Asset
		and with whom the Servicer had been engaged in substantive discussions at any
		time during the three month period prior to its resignation or the termination
		of this Agreement, the Servicer shall be paid Sales Fees in respect of such
		Aircraft Asset as if the Servicer had arranged for the sale of such Aircraft
		Asset. Following its resignation or the termination of this Agreement, the
		Servicer will, upon the request of Genesis, provide Genesis with a list of
		customers with respect to which the Servicer had been actively engaged in
		marketing such Aircraft Asset and with which the Servicer had been engaged in
		substantive discussions at any time during such three-month period. Such list
		shall be treated as confidential by

	 
		 

		
		  
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	 Genesis
		and shall not be disclosed to any Person or used for any purpose other than as
		a basis for determining any Sales Fees payable to the Servicer pursuant to the
		first sentence of this Section 10.04(d)(ii).

	  

	 (e) Transition. Upon
		the expiration or termination of this Agreement in accordance with this
		Article X, or upon the resignation or removal of the Servicer with respect
		to the performance of the Services for any Aircraft Asset, the Servicer shall
		promptly return the originals (and all copies) within its possession of all
		Aircraft Assets Related Documents to Genesis and shall provide Genesis with
		such access to other nonconfidential, nonproprietary documentation and
		information (exclusive of internal correspondence, approval materials, internal
		evaluations or similar documentation or information) generated as part of the
		performance of the Services to any Person within the Genesis Group (and, upon
		the request by Genesis and to the extent practicable, copies thereof) within
		its possession as is reasonably necessary to the conduct of the business of any
		Person within the Genesis Group.

	  

	 Section
		10.05. Survival.
		Notwithstanding any termination or the expiration of this Agreement,
		(a) the obligations of Genesis under Sections 2.03, 2.04, 2.05(a),
		2.05(c), 2.05(d), 2.05(f), 2.05(g), 2.05(h), 3.03, 3.04, 6.06 and 7.03(f),
		Article IX, Sections 10.04 and 10.05, Article XI and Sections 13.01,
		13.03 and 13.04 of this Agreement and Section 2.2(b) of
		Schedule 2.02(a) to this Agreement and the Servicer’s obligations
		under Section 10.04 and Article XI shall survive such termination or
		expiration, as the case may be, and (b) the representations and warranties
		contained in Article IV and in Section 2.02(g) shall survive and
		remain in full force and effect until the third anniversary of the date on
		which this Agreement shall have expired or terminated.

	  

	 ARTICLE
		XI

	  

	 Indemnification

	  

	 Section
		11.01. Indemnity.
		(a) Notwithstanding anything to the contrary set forth herein (other than
		Section 2.03(m)) or in any other Operative Agreement, Genesis does hereby
		assume liability for, and does hereby agree to indemnify and hold harmless on
		an After-Tax Basis each of the Indemnified Parties from, any and all Losses
		that may be imposed on, incurred by or asserted against any Indemnified Party,
		directly or indirectly, arising out of, in connection with or related to
		(i) the Servicer’s performance under this Agreement or from errors in
		judgment or omissions by the Servicer under this Agreement; provided,
		however, that
		such indemnity shall not apply to the extent that such Losses are finally
		adjudicated to have been directly caused by (x) the willful misconduct
		(including willful misconduct that constitutes fraud) or gross negligence of
		the Servicer in respect of its obligation to apply the Standard of Care or the
		Conflicts Standard in respect of its performance of the Services or
		(y) any representation or warranty by the Servicer set forth in
		Section 4.10 or 4.11 having proven to be false on the date hereof;
		(ii) any Indemnified Parties’ involvement (or alleged involvement) in
		connection with the structuring or implementation of any aspect of the
		transactions contemplated by the Final Prospectus; (iii) without limiting
		the provisions of clause (y) above, any Aircraft Assets and
		(iv) except as expressly provided to be the obligation of the Servicer in
		Section 2.03(m), the offering or sale of the Notes, the securities of
		Genesis or any other debt or equity securities or the obtaining of an loans by
		Genesis or any of its Affiliates, or any other Offerings including any Losses
		to which any Indemnified Party may become subject, under the Securities Act of
		1933, the Securities Exchange Act of 1934 or other Federal or state statutory
		law or regulation, at common law or otherwise, including any Loss that arises
		out of or is based upon: (A) any untrue statement or alleged untrue
		statement of a material fact contained in any Prospectus or in any amendment
		thereof or supplement thereto or in any other document filed with the United
		States Securities and Exchange Commission, or (B) the omission or alleged
		omission to state therein a material fact required to be stated therein or
		necessary to make the statements therein not misleading.

	 
		 

		
		  
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	 (b) Each
		Indemnified Party agrees to give Genesis prompt notice of any action, claim,
		demand, discovery of fact, proceeding or suit for which the applicable
		Indemnified Party intends to assert a right to indemnification under this
		Agreement; provided,
		however, that
		failure to give such notification shall not affect such Indemnified
		Party’s entitlement to indemnification under this Section 11.01
		unless and only to the extent such failure results in actual irreparable
		prejudice to Genesis or any other Person within the Genesis Group.

	  

	 Section
		11.02. Procedures
		for Defense of Claims.
		(a) If a Third Party Claim is made against any Indemnified Party, the
		applicable Indemnified Party shall promptly notify Genesis in writing of such
		claim (which notice shall include all relevant information reasonably necessary
		for Genesis to understand such claim which is in the possession or under the
		control of, or which can with reasonable commercial efforts be obtained by,
		such Indemnified Party at the time of such notice, subject to Applicable Laws
		and confidentiality obligations), and the Servicer or Genesis(if so directed by
		the applicable Indemnified Party and if so accepted by Genesis) will undertake
		the defense thereof. The failure to notify Genesis promptly shall not relieve
		Genesis of its obligations under this Article XI unless and only to the
		extent that such failure results in actual irreparable prejudice to Genesis or
		any other Person within the Genesis Group.

	  

	 (b) If so
		directed by the applicable Indemnified Party and if accepted by Genesis,
		Genesis shall within 30 days, undertake the conduct and control, through
		counsel of its own choosing (subject to the consent of the applicable
		Indemnified Party, such consent not to be unreasonably withheld or delayed) and
		at Genesis’s risk and expense, the good faith settlement or defense of
		such claim, and the applicable Indemnified Party shall cooperate fully with
		Genesis in connection therewith; provided,
		however, that
		(i) at all times the applicable Indemnified Party shall be entitled to
		participate in such settlement or defense through counsel chosen by it, and the
		fees and expenses of such counsel shall be borne by the applicable Indemnified
		Party, and (ii) Genesis shall not be entitled to settle such claims unless
		it shall have confirmed in writing its obligation to indemnify the applicable
		Indemnified Party for the liability asserted in such claim. Genesis shall
		obtain the written consent of the applicable Indemnified Party prior to ceasing
		to defend, settling or otherwise disposing of such claim if as a result thereof
		such Indemnified Party would become subject to injunctive, declaratory or other
		equitable relief or the business of such Indemnified Party would be materially
		adversely affected in any manner.

	  

	 (c) So long
		as Genesis is reasonably contesting any such claim in good faith, the
		applicable Indemnified Party shall fully cooperate with Genesis in the defense
		of such claim as is reasonably required by Genesis. Such cooperation shall
		include the retention and the provision of records and information which are
		reasonably relevant to such Third Party Claim and making directors, officers
		and employees available on a mutually convenient basis to provide additional
		information. Neither the Servicer nor any Indemnified Party shall settle or
		compromise any claim without the written consent of Genesis unless the Servicer
		or the applicable Indemnified Party agrees in writing to forego any and all
		claims for indemnification from Genesis with respect to such
		claims.

	  

	 (d) If
		Genesis, within 10 days after notice of any such claim, does not agree to
		defend such Third Party Claim as directed by the applicable Indemnified Party,
		such Indemnified Party will have the right to undertake the defense, compromise
		or settlement of such Third Party Claim.

	  

	 Section
		11.03. Reimbursement
		of Costs. The
		costs and expenses, including fees and disbursements of counsel (except as
		provided in clause (i) of the proviso to the first sentence of
		Section 11.02(b)) and expenses of investigation, incurred by any
		Indemnified Party in connection with any Third Party Claim, shall be reimbursed
		on a quarterly basis by Genesis upon the submission of evidence reasonably
		satisfactory to Genesis that such expenses have been incurred, without
		prejudice to Genesis’s right to contest the Indemnified Party’s right
		to indemnification and subject to refund in the event that Genesis is
		ultimately held not to be obligated to indemnify the Indemnified
		Party.

	 
		 

		
		  
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	 Section
		11.04. Waiver
		of Certain Claims; Special Indemnity.
		Genesis does hereby (a) assume liability for and agree to indemnify and
		hold harmless on an After-Tax-Basis, in accordance with the provisions of this
		Article XI, each of the Indemnified Parties from any and all Losses that
		may be imposed on, incurred by or asserted against any Indemnified Party
		directly or indirectly arising out of, in connection with or related to any
		claims of shareholders or creditors of any Person within the Genesis Group and
		any claims (“Shadow
		Director/Related Company Claims”)
		that may be made by or on behalf of any Person against any Indemnified Party
		which are based on any Indemnified Party being a shadow director of, or a
		related company to, any Person within the Genesis Group under applicable Irish
		law or which are based on any similar concept under any other Applicable Law;
		(b) waive, and shall cause each other Person within the Genesis Group to
		waive, any and all Shadow Director/Related Company Claims that may be made by
		or on behalf of any Person within the Genesis Group against any Indemnified
		Party, (c) agree not to sue, and to cause each other Person within the
		Genesis Group and Genesis not to sue, upon any such Shadow Director/Related
		Company Claims, and (d) agree that any amounts awarded to or received by
		any Person within the Genesis Group arising out of or related to any such
		Shadow Director/Related Company Claims (whether such claims were made by or on
		behalf of any Person within the Genesis Group or by a third party (including
		any liquidator)) shall be paid over to the applicable Indemnified
		Party.

	  

	 Section
		11.05. Waiver
		of Certain Accounting Claims; Special Indemnity.
		Genesis does hereby (a) assume liability for and agree to indemnify and
		hold harmless on an After-Tax-Basis, in accordance with this Article XI,
		each of the Indemnified Parties from any and all Losses that may be imposed on,
		incurred by or asserted against any Indemnified Party directly or indirectly
		arising out of, in connection with or related to any claims of shareholders or
		creditors of any Person within the Genesis Group or of any other Person arising
		out of, in connection with or related to, the compliance by Genesis or any
		other Person within the Genesis Group of their respective obligations,
		including any of their respective reporting obligations (“Compliance
		Obligations”)
		to any party to any Financing Agreement applicable to any Person in the Genesis
		Group, any holder of any Indebtedness or of any debt or equity securities
		issued by any Person within the Genesis Group or any Governmental Authorities
		and for all instructions, discretion, judgments and assumptions related to such
		Compliance Obligations (collectively “Accounting
		Claims”);
		provided,
		however, that
		such indemnity shall not apply to the extent that such Losses are finally
		adjudicated to have been directly caused by the willful misconduct (including
		willful misconduct that constitutes fraud) or gross negligence of the Servicer
		in respect of its obligation to apply the Standard of Care in respect of its
		performance of such Services, waive, and shall cause each other Person within
		the Genesis Group to waive, any and all Accounting Claims that may be made by
		or on behalf of Genesis or any other Person within the Genesis Group or of any
		holder of a beneficial interest in respect of the Genesis Group against any
		Indemnified Party and (c) agree not to sue, and to cause each other Person
		within the Genesis Group not to sue, upon any such Accounting
		Claim.

	  

	 Section
		11.06. Continuing
		Liability under Other Agreements. The
		Servicer understands, acknowledges and agrees that the intent of the parties
		hereunder is that any limitation on the liability of the Servicer under this
		Agreement, whether under this Article XI, Article III or otherwise,
		is not intended to and shall not be construed to limit the liability of any
		Person selling any Aircraft Assets under the Asset Purchase Agreement or the
		liability, if any, of GE Capital to the initial purchasers under a separate
		Indemnification Agreement, and that any such liability under such agreement
		shall not give rise to any claim for indemnification in favor of the Servicer
		or any of its Affiliates under this Agreement.

	 
		 

		
		  
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	 ARTICLE
		XII

	  

	 Assignment
		and Delegation

	  

	 Section
		12.01. Assignment
		and Delegation.
		(a) No party to this Agreement shall assign or delegate this Agreement or
		all or any part of its rights or obligations hereunder to any Person without
		the prior written consent of all other parties; provided,
		however, that
		(i) the Servicer may delegate any portion of but not all its obligations
		to any Affiliate of the Servicer (a “Servicer
		Delegate”);
		(ii) the foregoing provisions on assignment and delegation shall not limit
		the ability of the Servicer to contract with any Person, including any of its
		Affiliates, for services in respect of Aircraft Assets; and (iii) Genesis
		may assign its rights hereunder to a Security Trustee under Financing
		Agreements and, without in any way releasing Genesis from any of its duties or
		obligations hereunder, the Servicer consents to such assignment, it being
		understood that neither Genesis’s assignment nor the Servicer’s
		consent to such assignment will affect the Servicer’s rights and
		obligations hereunder, subject the Servicer to any liability to which it would
		not otherwise be subject to hereunder nor modify in any respect the contract
		rights of the Servicer hereunder. In addition, as a result of such assignment
		the Security Trustee and each Person entitled to any direct or indirect benefit
		under Financing Agreements shall be bound by the provisions of this Agreement,
		including Article 3 hereof. Any assignment or delegation pursuant to this
		Section 12.01(a) shall not require any approval pursuant to
		Section 7.04.

	  

	 (b) Without
		limiting the foregoing, any Person who shall become a successor by assignment
		or otherwise of Genesis or the Servicer (or any of their respective successors)
		in accordance with this Section 12.01 shall be required as a condition to
		the effectiveness of any such assignment or other arrangement to become a party
		to this Agreement; provided,
		however, that a
		Security Trustee shall not be required to become a party to this Agreement
		solely by reason of the execution and delivery of the Financing
		Agreements.

	  

	 ARTICLE
		XIII

	  

	 Miscellaneous

	  

	 Section
		13.01. Documentary
		Conventions. The
		Documentary Conventions shall govern this Agreement.

	  

	 Section
		13.02. Power
		of Attorney.
		Genesis shall and shall cause each other Person within the Genesis Group, to
		appoint the Servicer and its successors, and its permitted designees and
		assigns, as their true and lawful attorney-in-fact pursuant to the form of
		Power of Attorney attached as Schedule 13.02 to this Agreement (with such
		modifications as are necessary under the laws of the jurisdictions in which
		such Persons are organized). All services to be performed and actions to be
		taken by the Servicer pursuant to this Agreement shall be performed for and on
		behalf of Genesis. The Servicer shall be entitled to seek and obtain from
		Genesis (and/or any other MSA Person within the Genesis Group as appropriate) a
		power of attorney in respect of the execution of any specific action as the
		Servicer deems appropriate.

	  

	 Section
		13.03. Reliance. The
		Servicer shall be entitled to rely on the provisions of this Agreement,
		including Schedule 2.02(a), any Approved Budget, any direction of, or
		certification by, Genesis or its board of directors (or any duly appointed
		committee thereof) or the Administrative Agent, to the extent set forth in
		Section 2.02(c), and the Transaction Approval Requirements, and Genesis
		hereby waives any rights to challenge any action taken by the Servicer that is
		consistent with the provisions of this Agreement (including the Standard of
		Care and the Conflicts Standard), including Schedule 2.02(a), any Approved
		Budget, any such direction or certification or the Transaction Approval
		Requirements, or

	 
		 

		
		  
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	 which
		has been approved by the board of directors of Genesis or a duly appointed
		committee thereof, or the Administrative Agent.

	  

	 Section
		13.04. Certain
		Information. The
		parties hereto agree (a) not to provide to each other competitively
		sensitive information, other than information required to be provided by GECAS
		or Genesis, as the case may be, under contractual arrangements existing on the
		date hereof (or successor arrangements thereto), (b) that any party
		receiving such information shall take such action as shall be necessary to
		maintain the confidentiality thereof and (c) to establish appropriate
		procedures and protocols to ensure compliance with the agreements in
		clauses (a) and (b). Similarly, Genesis’s board of directors and
		Genesis itself on behalf of itself and its Representatives shall agree
		(x) not to provide competitively sensitive information which it may
		receive from GECAS pursuant to this Agreement, including the WHCO Servicing
		Agreement or any Securitization Servicing Agreement, to any third party and
		(y) not to use any such competitively sensitive information for any
		purpose other than its duties and responsibilities as a director or
		Representative of Genesis. In addition, to the extent that any director of
		Genesis or Representative of Genesis is involved in any other business
		activities that are competitive with GECAS or any Affiliate, Genesis must
		screen such Person from receipt of competitively sensitive information. Genesis
		shall require any such director or Representative of Genesis to undertake in
		writing not to provide competitively sensitive information which it may receive
		pursuant to this Agreement to any third party and not to use any such
		competitively sensitive information for any purpose other than its duties and
		responsibilities as a director of Genesis or as a Representative of Genesis.
		Genesis agrees that it will cause the terms of this Section 13.04 to be
		included in any other servicing agreement entered into by any Person within the
		Genesis Group with any other entity pursuant to which such entity will provide
		services with respect to any Aircraft on behalf of any Person within the
		Genesis Group, and, in connection therewith, the relevant directors shall
		provide to the servicer under such other servicing agreement written
		undertakings substantially similar to those provided to the Servicer as
		contemplated by the immediately preceding sentence. Without limiting the
		foregoing, Genesis shall, and shall cause each Person in the Genesis Group and
		each of its and their Representatives, to ensure that no competitively
		sensitive information is provided to a Competitor, even a Competitor that is a
		shareholder of Genesis or any Person within the Genesis Group. Genesis and the
		Servicer shall separately agree on the Aircraft Asset information to be
		provided under any Financing Agreement, and Genesis shall not provided Aircraft
		Asset information thereunder except as so agreed.

	  

	 Section
		13.05. [Intentionally
		Left Blank].

	  

	 Section
		13.06. Relationship
		to Securitization Servicing Agreement and WHCO Servicing
		Agreement. While
		a Securitization Servicing Agreement or the WHCO Servicing Agreement remains in
		full force and effect, the terms thereof shall govern exclusively the rights
		and obligations of the parties thereto with respect to “Aircraft
		Assets” as defined thereunder and in the event of any conflict between
		such agreements, the provisions of the Securitization Servicing Agreement or
		the WHCO Servicing Agreement, as applicable, shall apply to the Aircraft Assets
		related thereto. Upon the expiration or termination of a Securitization
		Servicing Agreement or the WHCO Servicing Agreement, this Agreement shall, if
		and to the extent it is then in full force and effect, govern the rights and
		obligations of the parties hereto with respect to the Aircraft Assets covered
		by such terminated or expired agreement, which shall thereupon become MSA
		Aircraft Assets, provided,
		however, that,
		notwithstanding the foregoing, the provisions thereof which are provided
		therein to survive the expiration or termination of such Securitization
		Servicing Agreement or the WHCO Servicing Agreement shall also continue to
		survive and be in full force and effect.

	  

	 Section
		13.07. Limited
		Recourse.
		(a) In the
		event that the assets of the Persons in the Genesis Group are insufficient,
		after payment of all other claims, if any, ranking in priority to the claims of
		the Servicer hereunder (it being agreed that there are no claims ranking in
		priority to those of the Servicer), to 

	 
		 

		
		  
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	 pay in
		full such claims of the Servicer, then the Servicer shall have no further claim
		against the Persons in the Genesis Group in respect of any such unpaid
		amounts.

	  

	 (b) To the
		extent permitted by Applicable Law, no recourse under any obligation, covenant
		or agreement of any party contained in this Agreement shall be had against any
		shareholder, officer or director of the relevant party as such, by the
		enforcement of any assessment or by any proceeding, by virtue of any statute or
		otherwise; it being expressly agreed and understood that this Agreement is a
		corporate obligation of the relevant party as such, or any of them under or by
		reason of any of the obligations, covenants or agreements of such relevant
		party contained in this Agreement, or implied therefrom, and that any and all
		personal liability for breaches by such party of any of such obligations,
		covenants or agreements, either at law or by statute or constitution, of every
		such shareholder, officer, agent or director is hereby expressly waived by the
		other parties as a condition of and consideration for the execution of this
		Agreement. For purposes of clarification, the foregoing applies only to Persons
		acting in their capacity as such shareholder, officer, agent or director and
		not in any other capacity and does not extend to the benefit of the Person for
		which such Person serves as shareholder, officer, agent or
		officer.

	 
		 

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

	  

	 
			 	 	 
	 	
				GE
				  COMMERCIAL AVIATION SERVICES

				LIMITED,
 
	 
 	 
 	 
 
	 	By:  	 
	 	
				
Name:
	 	Title 

 

	  

	 
			 	 	 
	 	
				GENESIS LEASE LIMITED
 
	 
 	 
 	 
 
	 	By:  	 
	 	
				
Name:
	 	Title 

 

	 
		 

		

		  
			 
		  

		  

		  
 

		

		 
 

	 
		SCHEDULE
		  2.02(a) TO

		SERVICING
		  AGREEMENT

		 
 

	 Aircraft
		Assets Services

	  

	 The
		provision of the Services set forth in this Schedule 2.02(a) shall apply
		only to MSA Aircraft Assets and MSA Persons from time to time and will be
		subject in all cases to such approval as may be required or such limitations as
		may be imposed pursuant to Section 7.04(a) of the Servicing Agreement and
		the provisions of this Schedule 2.02(a) shall be deemed to be so
		qualified.

	  

	 Unless
		otherwise defined herein, all capitalized terms used in this
		Schedule 2.02(a) have the meanings assigned to such terms in Appendix A to
		the Servicing Agreement. Genesis shall provide to the Servicer any instructions
		the Servicer may require in the interpretation of provisions of this Servicing
		Agreement related to Financing Agreements, on which instructions the Servicer
		shall be entitled to rely in all respects.

	  

	 SECTION 1. Lease
		Services.

	  

	 SECTION 1.1. Collections
		and Disbursements. In
		connection with each Lease of an Aircraft Asset under which any Person within
		the Genesis Group is the lessor, the Servicer will:

	  

	 (a) invoice
		the Lessee or otherwise arrange, as the Servicer deems reasonably appropriate,
		on behalf of such Person within the Genesis Group, for all payments due from
		the Lessee, including Rents, Deposits, Utilization Rent, Aircraft redelivery
		payments, late payment charges and any payments in respect of Taxes and other
		payments (including technical, engineering, insurance and other recharges) due
		under the relevant Lease, use reasonable commercial efforts to direct the
		Lessee, subject to the terms of the Lease, to make such payments to such
		account designated as the “Rental Account” in Schedule 4.03 to
		the Servicing Agreement (the relevant details of such Rental Account being set
		forth in such Schedule) or to such other accounts as specified in writing by
		the Administrative Agent and use reasonable commercial efforts to enforce the
		payment thereof in the event of a nonpayment by the relevant due
		date;

	  

	 (b) review
		from time to time, as deemed necessary by the Servicer, the level of Rents,
		Deposits, Utilization Rent and other amounts that may be adjusted under a Lease
		(and to the extent they are provided to be adjusted pursuant to the provisions
		of such Lease) and shall propose to the relevant Lessee and/or make such
		adjustments to the Rents, Deposits, Utilization Rent and other amounts as are
		required or that the Servicer otherwise deems reasonably appropriate
		considering, among other things, the terms of the relevant Lease and practices
		that the Servicer believes are prevalent in the operating lease
		market;

	  

	 (c) subject
		to the timely receipt by the Servicer of the information related to the receipt
		of all payments made pursuant to any Lease into any Bank Account, maintain
		appropriate records regarding payments under the Leases;

	  

	 (d) subject
		to the terms of any applicable Aircraft Assets Related Document, take such
		commercially reasonable actions as are necessary to apply any payments of any
		type received from any Lessee, or to make any payments payable to a Lessee, on
		a basis consistent with the directions of such Lessee and, to the extent that
		any such payments are made to an account other than the account to which such
		payment should have been directed pursuant to such Lessee’s direction, to
		take such further commercially reasonable actions as are necessary to give
		effect to such directions; provided,
		however, that,
		in the event a Lessee is in default under a Lease or a Lessee is subject to a
		voluntary or involuntary bankruptcy, liquidation, receivership or other similar
		proceeding, the Servicer will advise Genesis of how funds received from such
		Lessee

	 
		 

		
		  
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		  2.02(a) TO

		SERVICING
		  AGREEMENT

		 
 

	 were
		applied to the extent that such funds were applied to leases relating to both
		Aircraft Assets and Other Assets; and

	  

	 (e) provide
		for the safekeeping and recording of any letters of credit, guarantees or other
		credit support (other than cash and cash equivalents) held as part of Deposits
		or Utilization Rent and the timely renewal or drawing on or disbursement
		thereof as provided under the applicable Lease or other Aircraft Assets Related
		Document or otherwise in accordance with Section 1.5 of this
		Schedule 2.02(a).

	  

	 SECTION 1.2. Maintenance.
		Subject to the availability of adequate funding to comply with the obligations
		under this Schedule 2.02(a) and the Servicing Agreement, the Servicer will
		perform the following technical services relating to the maintenance of the
		Aircraft Assets:

	  

	 (a) monitor
		the performance of maintenance obligations by Lessees under all Leases relating
		to the Aircraft Assets by including the Aircraft Assets in the Servicer’s
		technical audit program, which program entails, to the extent feasible in a
		reasonable commercial manner in the ordinary course under the terms of the
		applicable Lease, the review of a Lessee’s technical recordkeeping
		procedures, the collection of summary maintenance data on each Aircraft Asset
		and, to the extent the Servicer deems reasonably necessary or appropriate,
		physical inspection of the Aircraft Assets on a sampling basis consistent with
		procedures employed from time to time by GECAS and its Affiliates with respect
		to their own or other serviced Aircraft;

	  

	 (b) confirm
		the air authority approval status of a Lessee’s proposed maintenance
		program and proposed maintenance performer under any new Lease of any Aircraft
		Assets under which any Person within the Genesis Group is, or following the
		Delivery of the related Aircraft Asset will be, the lessor;

	  

	 (c) in
		connection with a termination or expiration of a Lease under which any Person
		within the Genesis Group is, or following the Delivery of the related Aircraft
		Asset will be, the lessor:

	  

	 (i) arrange
		for the appropriate technical inspection of the Aircraft Asset for the purpose
		of determining if the re-delivery conditions under the Lease have been
		satisfied;

	  

	 (ii) maintain
		a record of all material reports and other written materials (including any
		relevant reconciliation statements) received or generated by the Servicer in
		connection with such inspection and provide reasonable access to such reports
		and written materials to the relevant Persons within the Genesis
		Group;

	  

	 (iii) on the
		basis of the final inspection and available records, determine whether the
		Lessee has complied with all required airworthiness directives and mandatory
		modifications, and establish the status of compliance with Airframe and Engine
		manufacturer service bulletins and Lessee-originated modifications undertaken,
		in each case with respect to the Aircraft Asset and as required by the
		Lease;

	  

	 (iv) (A)
		determine whether the Lessee has satisfied the re-delivery conditions
		applicable to the Aircraft Asset specified in the Lease and negotiate any
		modifications, repairs, refurbishments, inspections or overhauls to or
		compromises of such conditions that the Servicer deems reasonably necessary or
		appropriate, (B) determine the application of any available Deposits,
		Utilization Rent or other payments under the Lease

	 
		 

		
		  
			 SCHED 2.02(a)-2
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 
		 

		SCHEDULE
		  2.02(a) TO

		SERVICING
		  AGREEMENT

		 
 

	 and
		(C) maintain a record of the satisfaction of such conditions and accept
		re-delivery of the Aircraft Asset; and

	  

	 (v) determine
		the need for, procure and monitor (as provided in clause (a) above) the
		performance of any maintenance and refurbishment of the Aircraft Asset upon
		re-delivery, including compliance with applicable airworthiness directives,
		service bulletins and other modifications which the Servicer may deem
		reasonably necessary or appropriate for the marketing of the Aircraft
		Asset;

	  

	 (d) consider
		and, to the extent the Servicer deems reasonably necessary or appropriate,
		approve any Lessee-originated modifications to any Aircraft Asset submitted by
		any Lessee for approval:

	  

	 (i) to the
		extent authorized by the terms of the relevant Lease; or

	  

	 (ii) which
		the Servicer reasonably determines would not result in a material diminution in
		value of the Aircraft Asset or the interests of any Person within the Genesis
		Group; or

	  

	 (iii) which
		are approved by Genesis;

	  

	 (e) determine
		the amount (if any) that the relevant Person within the Genesis Group is
		obliged to contribute pursuant to the provisions of a Lease (taking into
		account where applicable the amount of Utilization Rent paid with respect to
		such Lease and the receivables position of the related Lessee) to the cost of
		complying with any modification requirements, maintenance contribution
		requirements, redelivery condition payment requirements, airworthiness
		directives and similar requirements; and

	  

	 (f) arrange
		and supervise appropriate storage and any required on-going maintenance of any
		Aircraft Asset, at the expense of the relevant Person within the Genesis Group,
		following termination of a Lease for any reason and re-delivery of the Aircraft
		Asset thereunder and prior to delivery of such Aircraft Asset to a new lessee
		or purchaser, on the most economic basis reasonably available and appropriate
		under the circumstances.

	  

	 The
		Servicer shall generally provide the technical/maintenance services set forth
		in this Section 1.2 through the use of its own staff where it shall deem
		appropriate and shall utilize third parties to provide such
		technical/maintenance services where it shall deem appropriate.

	  

	 SECTION 1.3. Insurance.

	  

	 (a) The
		Servicer will provide the following insurance services:

	  

	 (i) negotiate
		the insurance provisions of any proposed lease or other agreement affecting any
		of the Aircraft Assets, with such provisions to include such minimum coverage
		amounts with respect to hull and liability insurance as are set forth on Annex
		1 to the Servicing Agreement, as the same may be amended from time to time at
		the direction of Genesis (but in no event shall any amendment adversely affect
		the right of GECAS to be insured under general and war risk liability policies
		acceptable to it with the minimum amounts specified herein); provided,
		however, that,
		if an agreement with respect to hull or liability insurance, if any, cannot be
		reached with any particular Lessee pursuant to which such Lessee will procure
		and pay the premiums for such insurance in

	 
		 

		
		  
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		SCHEDULE
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		SERVICING
		  AGREEMENT

		 
 

	 amounts
		consistent with the foregoing, the Servicer may still cause the applicable
		Person in the Genesis Group to enter into such proposed lease or other
		agreement, but in which case the Servicer shall arrange for any shortfall in
		the required amount of insurance to be covered, at the expense of Genesis,
		pursuant to arrangements entered into pursuant to clauses (iii) and (v) of
		this Section 1.3(a);

	  

	 (ii) monitor
		the performance of the obligations of Lessees relating to insurance under
		Leases of any Aircraft Assets and, where practicable, ensuring that appropriate
		evidence of insurance exists with respect to any Aircraft Assets maintenance
		providers;

	  

	 (iii) source
		and arrange an aviation insurance program covering the Aircraft Assets (it
		being understood that such program may be arranged pursuant to a group policy
		covering both Aircraft Assets and Other Assets the premiums in respect of which
		are shared equitably based on the amount of insurance obtained and premium paid
		thereunder with respect to the covered Aircraft Assets, on the one hand, and
		the Other Assets, on the other hand; provided that the Servicer is not
		obligated to arrange such a group policy and that Genesis acknowledges that
		(A) such group policy may not result in any savings; and (B) the
		Servicer’s current practice is to include the Other Assets serviced for
		other third parties under a different group policy than that for Other Assets
		serviced for GE Capital and its Affiliates), with such minimum coverage amounts
		with respect to hull and liability insurance as are set forth on Annex 1 to the
		Servicing Agreement, as the same may be amended from time to time at the
		direction of Genesis;

	  

	 (iv) procure
		such repossession insurance for Aircraft Assets registered in those countries
		listed on Annex 1 to the Servicing Agreement (which list has been established
		by Genesis and may be modified from time to time by Genesis) and with such
		minimum coverage amounts with respect to hull insurance as are set forth on
		Annex 1 to the Servicing Agreement, as the same may be amended from time to
		time at the direction of Genesis; provided,
		however, that,
		if an agreement with respect to repossession insurance, if any, cannot be
		reached with any particular Lessee pursuant to which such Lessee will pay the
		premiums for such insurance in amounts consistent with the foregoing, the
		Servicer may still cause the applicable Person in the Genesis Group to enter
		into such proposed lease or other agreement, but in which case the Servicer
		shall pay any premiums to the extent unpaid by the Lessee, at the expense of
		Genesis; and

	  

	 (v) if at
		any time any Aircraft Asset ceases to be insured or any Person within the
		Genesis Group requires insurance coverage relating to an Aircraft Asset for any
		reason, including default by the Lessee or an Aircraft Asset not being leased
		upon termination of a Lease, the Servicer will procure, at the expense of the
		relevant Person within the Genesis Group, alternative insurance coverage, with
		such minimum coverage amounts with respect to hull and liability insurance as
		are set forth on Annex 1 to the Servicing Agreement, as the same may be amended
		from time to time at the direction of Genesis; 

	  

	 provided,
		however, that,
		in each case where insurance is to be obtained by the Servicer, such insurance
		is reasonably available in the relevant insurance market and the Servicer shall
		have used reasonable sourcing techniques prior to obtaining such insurance;
		provided, further, however, that the Servicer shall not obtain or shall
		terminate, as the case may be, any such insurance (except liability insurance
		and war risk liability insurance in favor of the Servicer and its Affiliates)
		with respect to which the Servicer has been so instructed by Genesis because
		Genesis has determined that the rates for such insurance are not

	 
		 

		
		  
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		SCHEDULE
		  2.02(a) TO

		SERVICING
		  AGREEMENT
 

	  

	 commercially
		reasonable. The foregoing provisions shall apply, mutatis mutandis, to any
		arrangements in which Persons other than Lessees have possession of, or
		insurance responsibility for, an Aircraft Asset (including in the event that an
		Aircraft Asset has been sold pursuant to a mortgage, deferred payment agreement
		or any similar arrangement).

	  

	 (b) The
		Servicer may engage, on behalf of, and for the benefit and at the expense of,
		any Person within the Genesis Group, one or more Advisers and Brokers, each of
		whom:

	  

	 (i) may also
		act in the same or similar capacities for the Servicer and its
		Affiliates;

	  

	 (ii) shall
		take directions from the Servicer (as authorized by the Servicing Agreement) in
		respect of the Aircraft Assets; and

	  

	 (iii) may act
		on behalf of any Person within the Genesis Group in respect of any of their
		other insurance requirements, if requested to do so by any such Person within
		the Genesis Group.

	  

	 The
		Servicer shall be entitled to rely reasonably on the actions taken by or
		recommendations of any such Adviser and Broker, subject to the terms of the
		relevant Lease. The Servicer will obtain such advice from the relevant Adviser
		or Broker or both, as it deems appropriate, as to the reasonableness of any
		insurance arrangements proposed by a Lessee, and as to the levels and types of
		insurance to be provided by a Lessee or to be arranged by the Servicer, for any
		of the Aircraft Assets. Except to the extent the Servicer can effect more cost
		efficient coverage under fleet or group policies, the Servicer will use
		reasonable commercial efforts to maintain separate and distinct customer
		relationships with such Advisers or Brokers when acting on behalf of any Person
		within the Genesis Group, on the one hand, and when acting on its own behalf or
		on behalf of other Persons not within the Genesis Group whose Aircraft Assets
		it manages, on the other hand. Any such insurance obtained by the Servicer
		shall include as the named insured thereunder, such Persons as are required to
		be designated as named insureds pursuant to paragraph 6 of Annex 1 to the
		Servicing Agreement.

	  

	 (c) The
		Servicer shall provide to Genesis such periodic reports regarding insurance
		matters relating to the Aircraft Assets as Genesis may reasonably
		request.

	  

	 SECTION 1.4. Administration. The
		Servicer shall administer each Lease in accordance with its terms and as
		otherwise specifically addressed herein.

	  

	 SECTION 1.5. Enforcement. The
		Servicer shall take commercially reasonable steps to enforce the obligations to
		the relevant Person within the Genesis Group of the Lessee and any other
		parties under each Lease and under any ancillary agreements thereto delivered
		by Genesis to the Servicer (including any guarantees of the obligations of the
		Lessee). Following any default by a Lessee under the applicable Lease, the
		Servicer will take all such commercially reasonable steps as it deems
		reasonably necessary or appropriate to preserve and enforce the rights of the
		relevant Person within the Genesis Group under the applicable Lease, including
		entering into negotiations with such Lessee with respect to the restructuring
		of such Lease or declaration of an event of default under the applicable Lease,
		drawing on or making disbursement of any Deposits, Utilization Rent or any
		letters of credit, guarantees or other credit support thereunder, voluntary or
		involuntary termination of the Lease and repossession of the Aircraft Asset
		that is the subject of the Lease, and pursuing such legal action with respect
		thereto as the Servicer deems reasonably necessary or appropriate.

	 
		 

		
		  
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		SERVICING
		  AGREEMENT

		 
 

	 SECTION 1.6. Lease
		Modifications. (a)
		The Servicer shall be authorized to make such amendments and modifications to
		any Lease as it shall deem reasonably necessary or appropriate; provided,
		however, that
		such amendment or modification shall require the approval of Genesis pursuant
		to Section 7.04(a) of the Servicing Agreement if the provisions of such
		amendment or modification, were they to be included in a new Lease to be
		entered into after the date hereof, would, on their own, cause the entering
		into of such new Lease to require the approval of Genesis pursuant to
		Section 7.04(a)(ii) of the Servicing Agreement. Such amendments or
		modifications may be made without regard to whether there is a default by the
		Lessee or other party under or with respect to any such Lease.

	  

	 (b) The
		Servicer may waive, in good faith but sole discretion, overdue interest due
		from any Lessee under any Lease on any default in payment of rent, Utilization
		Rent or other amount thereunder.

	  

	 SECTION 1.7. Options
		and Other Rights. The
		Servicer shall be authorized to take such action as it shall deem reasonably
		necessary or appropriate with respect to:

	  

	 (a) the
		exercise by any Lessee or other party of any option or right affecting the
		applicable Aircraft Asset or the applicable Lease, consistent with the terms of
		any such option or right; and

	  

	 (b) the
		exercise on behalf of any Person within the Genesis Group of any right or
		option that such Person may have with respect to any of the Aircraft Assets or
		the Leases.

	  

	 SECTION 2. Compliance
		with Covenants; Security Interests.

	  

	 SECTION 2.1. Compliance
		Generally. (a)
		Subject to the availability to the Servicer of adequate funding to comply with
		its obligations under this Schedule 2.02(a) and the Servicing Agreement,
		the Servicer shall take such commercially reasonable actions as it shall deem
		reasonably necessary or appropriate to keep Genesis and other MSA Persons in
		compliance with its obligations and covenants under applicable Financing
		Agreements as and to the extent set forth on Schedule 2.02(a)(i), as
		amended from time to time, and solely to the extent that such obligations and
		covenants specifically and directly relate to the Services, excluding, in any
		case, (i) any reporting obligations in respect of any of the foregoing and
		(ii) any payment or monetary obligations; provided,
		however, that
		the foregoing shall only apply to (A) any Financing Agreement covenants that
		are set forth (or, in certain cases, appear as extracts) on
		Schedule 2.02(a)(i) to the Servicing Agreement, to the extent that each
		provision set forth (or extracted) on such Schedule includes the relevant
		section references for each such provision from such Financing Agreements, and
		which (together with the definitions for any capitalized terms used therein)
		are set forth in full in a copy of such Financing Agreements delivered by
		Genesis to the Servicer, certified by Genesis as a true and complete copy
		thereof (and Genesis shall promptly provide the Servicer with all amendments,
		supplements and waivers thereto, so certified), and Genesis shall provide to
		the Servicer any instructions the Servicer may require in the interpretation of
		such Financing Agreements, on which instructions the Servicer shall be entitled
		to rely in all respects and (B) such Financing Agreement covenants first
		coming into effect (including through amendments or modifications) after the
		date of the Servicing Agreement that are reasonably acceptable to the Servicer,
		or which Genesis shall from time to time notify the Servicer in writing, in
		reasonably specific detail such Financing Agreements by amendment to such
		Schedule 2.02(a)(i) and that are reasonably acceptable to the
		Servicer.

	  

	 (b) Nothing
		in this Schedule 2.02(a) or elsewhere in the Servicing Agreement shall be
		deemed to constitute or be construed as (i) a delegation or other transfer
		to, or an assumption by, the Servicer or any of its Affiliates of any
		obligations of any Person within the Genesis Group (or, with respect to any
		Original Aircraft, the owner) to make any payment to any Lessee or other
		Person, or to comply with any other monetary obligation, under any Lease or
		other contract of any Person in the

	 
		 

		
		  
			 SCHED 2.02(a)-6
		  

		  
			 
		  

		  

		  
 

		
 

	 
		 

		SCHEDULE
		  2.02(a) TO

		SERVICING
		  AGREEMENT
 

	  

	 Genesis
		Group or (ii) a transfer to the Servicer or any of its Affiliates of any
		right, title or interest in any Lease or related agreement or any Aircraft
		Asset covered thereby.

	  

	 SECTION 2.2. [Intentionally
		Left Blank]

	  

	 SECTION 2.3. Security
		Interests and International Interests. (a)
		Security
		Interests. In
		connection with the obligation of any Person within the Genesis Group under
		Financing Agreements to perfect any security interest granted by it in its
		right, title and interest in and to any assigned Lease, the Servicer’s
		sole responsibility in respect thereof shall be to take the following actions
		with respect to each assigned Lease: (1) seek advice from local counsel in
		the jurisdiction where the related Aircraft Asset is registered as to what
		actions would be customarily taken in such jurisdiction to perfect the security
		interest created in such assigned Lease pursuant to such Financing Agreements
		and to use commercially reasonable efforts to implement such advice,
		(2) create an original chattel paper copy of such assigned Lease by adding
		the following language to the cover of such assigned Lease: “To the
		extent, if any, that this [Lease Agreement] or any [Lease Supplement] hereunder
		constitutes chattel paper (as such term is defined in the Uniform Commercial
		Code as in effect in any applicable jurisdiction), no security interest in this
		[Lease Agreement] or such [Lease Supplement] may be created through the
		transfer or possession of any counterpart other than the original executed
		counterpart, which shall be identified as the counterpart containing the
		receipt therefor executed by the Security Trustee under and as defined in the
		[______________] dated as of [_________] between Genesis, [_______________], as
		Security Trustee, and the various other parties identified on the signature
		pages thereof”, and (3) no later than ten days after the execution of
		such assigned Lease by all the parties thereto, deliver such original chattel
		paper copy (which, by way of clarification, shall not include the signature or
		the receipt therefor of the Security Trustee) to a courier service for delivery
		to the Security Trustee at its address for notices in such Financing Agreement,
		(4) notify the Lessee in writing of the security assignment of such
		assigned Lease to the Security Trustee pursuant to such Financing Agreements
		(which notice may be contained in such assigned Lease), (5) obtain from
		the Lessee a written acknowledgment addressed to, or for the benefit of, the
		Security Trustee (A) acknowledging receipt of notification of such
		security assignment and (B) containing the agreement of the Lessee to
		continue to make all payments required to be made to the lessor under such
		assigned Lease to the account specified in such assigned Lease unless and until
		the Security Trustee otherwise directs (it being understood that the account
		specified in such assigned Lease will be the account specified by the
		Administrative Agent to the Servicer as contemplated by Section 1.1(a) of
		this Schedule 2.02(a)) and (6) take such other action as Genesis
		shall have reasonably requested and described in reasonable detail in a written
		notice to the Servicer. Notwithstanding the foregoing, the Servicer shall have
		no obligation to take any action specified in the prior sentence of this
		Section 2.3(a) with respect to any assigned Lease or any supplement or
		amendment thereto that was executed before the related Aircraft became an
		Aircraft Asset (it being the expectation of the parties hereto that such action
		will be taken by the seller of any Aircraft Asset related to such assigned
		Lease to any Person within the Genesis Group). In connection with any assigned
		Lease, Genesis will cooperate with the Servicer in obtaining a letter of quiet
		enjoyment with respect to such assigned Lease.

	  

	 (b)
		International
		Interests. In
		connection with the obligation of any Person within the Genesis Group under any
		Financing Agreement to register at the International Registry any International
		Interest provided for under any Lease, the Servicer’s sole responsibility
		in respect thereof shall be to direct the International Registry administrator
		of the Person within the Genesis Group that is lessor under such Lease to
		register such International Interest with the International Registry and seek
		the consent of the Lessee to such registration. In connection with the
		obligation of any Person within the Genesis Group under any Financing Agreement
		to register the assignment to the Security Trustee of any International
		Interest provided for under any Lease of an Aircraft, the Servicer’s sole
		responsibility in respect thereof shall be to, upon request by the Security
		Trustee, direct the International Registry administrator of the Person within
		the Genesis Group that is lessor under such Lease to consent to the
		registration of the 

	 
		 

		
		  
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		SERVICING
		  AGREEMENT
 

	  

	 assignment
		in favor of the Security Trustee of any International Interest that has been
		registered with the International Registry in respect of such Lease and is then
		held by a Person with the Genesis Group, and request the consent of the Lessee
		under such assigned Lease to such assignment (which consent may be forth in the
		assigned Lease). In connection with the obligation of any Person within the
		Genesis Group under any Financing Agreement to register any International
		Interest created under any contract of sale with respect to an Aircraft Asset,
		the Servicer’s sole responsibility in respect thereof shall be to direct
		the International Registry administrator of the Person within the Genesis Group
		that is a party to such contract of sale to register such International
		Interest with the International Registry and seek the consent of the other
		party to such contract of sale to such registration. In connection with the
		obligation of any Person within the Genesis Group under any Financing Agreement
		to register any contact of sale with respect to an Aircraft Asset, the
		Servicer’s sole responsibility in respect thereof shall be to, upon
		request by the Security Trustee, direct the International Registry
		administrator of the Person within the Genesis Group that is owner of such
		Aircraft Asset to consent to the registration in favor of the Security Trustee
		of such International Interest with the International Registry.

	  

	 SECTION 3. Lease
		Marketing.

	  

	 (a) The
		Servicer shall provide and perform lease marketing services with respect to the
		Aircraft Assets and in connection therewith is authorized:

	  

	 (i) to
		negotiate and enter into any commitment for a lease of an Aircraft Asset in the
		name of the relevant Person within the Genesis Group (or, with respect to any
		Original Aircraft, the owner); and

	  

	 (ii) to
		include within any commitment for a Lease of an Aircraft Asset and/or effect
		any intermediate Lease or Leases through any Person within the Genesis Group
		that the Servicer deems reasonably necessary or appropriate.

	  

	 (b) The
		Servicer shall commence the negotiation of any commitment for a Lease or Leases
		of Aircraft Assets in a manner consistent with the practices employed by the
		Servicer with respect to its aircraft operating leasing services business
		generally and shall commence the drafting of, and negotiation with respect to,
		any Leases for Aircraft Assets on the following basis:

	  

	 (i) in the
		case of any proposed Lessee that is not and has not been a lessee of an
		aircraft managed or serviced by the Servicer, the Servicer shall commence the
		drafting of, and negotiation with respect to, a Lease for Aircraft Assets based
		on the form of lease agreement or agreements then used by the Servicer in
		connection with its aircraft operating leasing services business generally (as
		such form of lease shall be amended from time to time by the Servicer, the
		“Genesis
		Pro Forma Lease”);
		and

	  

	 (ii) in the
		case of any proposed Lessee that is or was a lessee of an aircraft managed or
		serviced by the Servicer, the Servicer may commence the drafting of, and
		negotiation with respect to, a Lease for Aircraft Assets based on a form of
		lease substantially similar to the lease previously used with respect to such
		Lessee (the “Precedent
		Lease”).

	  

	 Provided
		that the Servicer commences the negotiation of a Lease of any Aircraft Asset in
		accordance with clauses (b)(i) and (b)(ii) above, the terms of any
		executed Lease may vary from the terms of the Genesis Pro Forma Lease or the
		Precedent Lease employed by the Servicer in accordance with such clauses.
		Section 3(b) shall not be applicable to the negotiation with respect to,
		or execution of, any Lease for Aircraft Assets in which negotiations commenced
		on or prior to the Closing Date. The Servicer is

	 
		 

		
		  
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		SCHEDULE
		  2.02(a) TO

		SERVICING
		  AGREEMENT
 

	  

	 authorized
		to execute and deliver binding leases and related agreements on behalf of the
		relevant Person within the Genesis Group based on the foregoing
		procedures.

	  

	 (c) Upon ten
		Business Days’ prior written notice from Genesis requesting a copy of the
		then current Genesis Pro Forma Lease (the “Annual
		Review”),
		the Servicer shall provide Genesis with a copy of its then current Genesis Pro
		Forma Lease, together with a copy thereof marked (with such marking to be
		accomplished only if, and to the extent, possible with the then current word
		processing software employed by the Servicer and, for the avoidance of doubt,
		not manually) to reflect changes from the version of the Genesis Pro Forma
		Lease from the Genesis Pro Forma Lease utilized previously or as of the Closing
		Date (a copy of which shall have been delivered to Genesis on or before the
		Closing Date) in the case of the first such Annual Review.

	  

	 (d) The
		Servicer shall take such reasonable commercial actions as shall be reasonably
		necessary or appropriate to deliver any Aircraft Asset pursuant to the terms of
		the documentation of the Lease or Leases of such Aircraft Asset, including upon
		an extension of such Leases.

	  

	 (e) The
		Servicer shall generally provide the marketing services set forth in this
		Section 3 through the use of its own marketing staff where it shall deem
		appropriate and shall utilize third parties to provide such marketing services
		where it shall deem appropriate.

	  

	 SECTION 4. Sales of
		Aircraft and Engines.

	  

	 (a) The
		Servicer shall provide and perform sales services with respect to the Aircraft
		Assets at, and on a basis consistent with, the direction from time to time of
		Genesis, and, in connection therewith, is authorized:

	  

	 (i) to enter
		into any commitment for a sale of an Aircraft Asset on behalf and (through a
		power of attorney) in the name of the relevant Person within the Genesis Group;
		and

	  

	 (ii) to
		include within any sale and effect any intermediate Lease or Leases through any
		Person within the Genesis Group that the Servicer deems reasonably necessary or
		appropriate;

	  

	 provided,
		however, that,
		except as otherwise required in accordance with the terms of a Lease, the
		Servicer shall not enter into any sale of any Aircraft Asset or agreement to
		sell any Aircraft Assets without obtaining the approval of Genesis or the
		Administrative Agent pursuant to Section 7.04(a) of the Servicing
		Agreement.

	  

	 (b) The
		Servicer shall negotiate documentation of any sale and, subject to
		Section 4(a) of this Schedule 2.02(a), is authorized to execute and
		deliver binding agreements on behalf and (through a power of attorney) in the
		name of the relevant Person within the Genesis Group.

	  

	 (c) The
		Servicer shall take such reasonable commercial actions as shall be reasonably
		necessary or appropriate to deliver any Aircraft Asset pursuant to the terms of
		the documentation of the sale.

	  

	 (d) In the
		event that Genesis directs the Servicer to sell or arrange for the sale of any
		Aircraft Asset, the Servicer will not be required to take any such action until
		Genesis shall

	 
		 

		
		  
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		SCHEDULE
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		SERVICING
		  AGREEMENT
 

	  

	 provide
		the Servicer with an Officer’s Certificate, substantially in the form
		attached as Schedule 2.02(a)(ii) to the Servicing Agreement, certifying
		that such sale complies with the terms of any applicable Financing Agreements
		and that the Servicer is entitled to rely upon such certification for all
		purposes of the Servicing Agreement and this
		Schedule 2.02(a).

	  

	 (e) Notwithstanding
		any other provision in Section 7.04 of the Servicing Agreement to the
		contrary, the Servicer shall be permitted to purchase, sell or exchange any
		Engine relating to an Aircraft or any part or components thereof or spare parts
		or ancillary equipment or devices furnished with an Aircraft at such times and
		on such terms and conditions as the Servicer deems reasonably necessary or
		appropriate in connection with its performance of the Services; provided,
		however, the
		Servicer shall not be permitted to purchase, or enter any order to purchase,
		Engines or spare parts (y) in a quantity in excess of that quantity deemed
		by the Servicer as appropriate in connection with the operation, leasing or
		sale of such the Aircraft Assets without obtaining the prior written consent of
		Genesis, or (z) if the net (after credit for any exchanges, replacements
		or similar items) cash out-of-pocket purchase price of such Engine exceeds
		$3,000,000.

	  

	 SECTION 5. Aircraft
		Acquisitions.

	  

	 SECTION 5.1. Acquisitions. For
		purposes of clarification, while Genesis shall in its sole discretion be
		entitled to acquire any Additional Aircraft, the Servicer shall have no
		obligations under this Agreement with respect to the acquisition of any
		Aircraft except to the extent expressly set forth in Section 5.2 and
		subject to the conditions in Sections 2.02(h) and 2.03(g) of the Servicing
		Agreement.

	  

	 SECTION 5.2. Other
		Acquisition Activities. Except
		as otherwise provided in Section 2.03(g) of the Servicing Agreement, the
		Servicer shall not be required to assist in the solicitation of, or otherwise
		take any action to obtain, any acquisition of any Aircraft, Engine or other
		property or any lessee consents and/or novations in connection with the
		acquisition of any Aircraft Assets or the issuance of Indebtedness or equity
		(it being the expectation of the parties hereto that the obtaining of any
		lessee consents and/or novations with respect to any Aircraft Asset shall be
		the responsibility of the seller of such Aircraft Asset to any Person within
		the Genesis Group). The parties hereto acknowledge that Section 2.03 of
		the Servicing Agreement deals with, among other things, the Servicer’s
		involvement in the issuance of additional Indebtedness or equity.

	  

	 SECTION 6. [Intentionally
		Left Blank].

	  

	 SECTION 7. Aircraft
		Asset Cash Services.

	  

	 SECTION 7.1. Accounts
		and Account Information.

	  

	 (a) Existing
		Accounts. In the
		event that the Administrative Agent desires to modify any of the arrangements
		relating to any of the bank accounts set forth on Schedule 4.03 to the
		Servicing Agreement (the “Existing
		Accounts”)
		in accordance with Section 2.04 of the Administrative Agency Agreement,
		Genesis shall cause the Administrative Agent to (i) deliver a certificate
		to the Servicer specifying in reasonable detail the modifications to be made
		with respect to any such Existing Accounts and certifying that any such
		modifications are in accordance with the applicable provisions of the
		applicable Financing Agreement and the Administrative Agency Agreement and
		(ii) transmit instructions to the relevant banking institution to effect
		such modifications and shall take such other actions as are incidental thereto
		in order to give effect to the foregoing.

	 
		 

		
		  
			 SCHED 2.02(a)-10
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
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		SERVICING
		  AGREEMENT
 

	  

	 (b) New
		Accounts. The
		Servicer shall notify the Administrative Agent in the event that any new bank
		accounts need to be established on behalf of any Person within the Genesis
		Group in connection with a Lease and shall set forth in reasonable detail the
		(i) identity of the Lessee, (ii) Aircraft Assets subject to such
		Lease and (iii) jurisdiction of the Lessee and in which such Aircraft
		Assets are to be registered. Following receipt of such notice from the
		Servicer, Genesis shall cause the Administrative Agent promptly to
		(i) deliver a certificate to the Servicer specifying (v) the name and
		location of the bank at which such account will be established, (w) the
		name(s) in which such account will be established, (x) the names of the
		beneficiaries of such account, (y) the names of the Persons authorized to
		make withdrawals from such account and (z) such other information
		(including with respect to any security arrangements) as the Administrative
		Agent deems appropriate and certifying that the establishment of such account
		is in accordance with the applicable provisions of the applicable Financing
		Agreement and the Administrative Agency Agreement and (ii) transmit
		instructions to the relevant banking institution to effect the establishment of
		such account and shall take such other actions as are incidental thereto in
		order to give effect to the foregoing (the “New
		Accounts”;
		and, together with the Existing Accounts, the “Bank
		Accounts”).
		

	  

	 SECTION
		7.2. Cash
		Transfers.
		(a) In the event that funds are required to be transferred from any Bank
		Account to the account of another Person (other than any Person within the
		Genesis Group) in order to give effect to the directions of any Lessee in
		accordance with Section 1.1(d) of this Schedule 2.02(a), the Servicer
		shall provide the Administrative Agent with written notice setting forth the
		(i) name of the transferor, (ii) name of the transferee,
		(iii) accounts from and to which funds are to be transferred,
		(iv) amounts to be transferred, (v) amount of the initial payment
		from or to the Lessee and (vi) anticipated date of transfer. No later than
		the next following Business Day, Genesis shall cause the Administrative Agent
		to notify the Servicer in writing whether the proposed transfer will be made on
		such anticipated date of transfer or on another stated date. Genesis shall
		instruct the Administrative Agent to cause such transfer to be made on such
		date in accordance with the terms of the written notice provided by the
		Servicer.

	  

	 (b) It is
		understood and agreed that (i) all decisions as to any transfers contemplated
		by Section 7.2(a) shall be the decisions and responsibility of the
		Administrative Agent and not the decisions and responsibility of the Servicer
		(and the Servicer shall not be subject to any other responsibilities not
		specified in this Section 7 or any liability whatsoever for any such
		transfers or any decisions of the Administrative Agent related thereto) and
		(ii) the Servicer shall have no responsibility as to the actions taken (or
		omitted) by any banking institution upon receipt of any payment instruction
		from the Administrative Agent in accordance with the procedures set forth in
		this Section 7.

	  

	 SECTION
		7.3 Payments.
		

	  

	 (a) Anticipated
		Payments. For
		purposes of the calculation of the Required Expense Amount by the
		Administrative Agent pursuant to the Administrative Agency Agreement, not less
		than one Business Day prior to each Calculation Date, the Servicer shall
		deliver to the Administrative Agent a written projection of payment obligations
		(including projected expenditures (including maintenance contribution payments,
		airworthiness directive payments and redelivery condition payments), or return
		to Lessees of security deposits in accordance with the terms of any Lease)
		reasonably anticipated by the Servicer to be necessary to be paid in connection
		with the Servicer’s performance of the Services under the Servicing
		Agreement during the period extending from the Payment Date immediately
		following such Calculation Date through to the next succeeding Payment Date
		(the “Monthly
		Payment Period”).
		Not later than two Business Days prior to the date of each cash payment, the
		Servicer shall deliver to the

	 
		 

		
		  
			 SCHED 2.02(a)-11
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
		  2.02(a) TO

		SERVICING
		  AGREEMENT

		 
 

	 Administrative
		Agent a written notice of such payment (whether or not such cash payment was
		reflected in the projection referred to in this Section 7.3(a)), and shall
		state (i) the anticipated date of such payment, (ii) the payee,
		(iii) the amount of such payment and (iv) the obligation in respect
		of which such payment is to be made (the “Stated
		Services Obligation”),
		with an appropriate notation if, and to what extent, such payment should be
		made from the Lessee Funded Account. No later than the Business Day prior to
		such anticipated date of payment, Genesis shall instruct the Administrative
		Agent to notify the Servicer in writing whether the proposed payment will be
		made on such anticipated date or on another stated date. Genesis shall instruct
		the Administrative Agent to pay or cause such payment to be made on such date
		to the payee for the Stated Services Obligation from the funds then available
		in the Expense Account and/or the Lessee Funded Account, as the case may
		be.

	  

	 (b) Unanticipated
		Payments. During
		any Monthly Payment Period the Servicer may request in writing the
		Administrative Agent’s approval for the Administrative Agent to pay or
		cause to be paid expenses that had not been reasonably anticipated by the
		Servicer at the time the projection required to be provided to the
		Administrative Agent pursuant to Section 7.3(a) with respect to such
		Monthly Payment Period was delivered to the Administrative Agent. Any such
		request shall specify for each such payment obligation (i) the anticipated
		date of such payment, (ii) the payee, (iii) the amount of such
		payment and (iv) the Stated Services Obligation, with an appropriate
		notation if, and to what extent, such payment should be made from the Lessee
		Funded Account. No later than the Business Day next following such request by
		the Servicer, Genesis shall instruct the Administrative Agent to notify the
		Servicer in writing whether such payment will be made on such anticipated date
		of payment or on another stated date. Genesis shall instruct the Administrative
		Agent to pay or cause such payment to be made on such date to the payee for the
		Stated Services Obligation from the funds then available in the Expense Account
		or the Lessee Funded Account, as the case may be. In the event that the funds
		then available in the Expense Account or the Lessee Funded Account are
		insufficient to make any such payment, pursuant to the Administrative Agency
		Agreement, Genesis shall cause the Administrative Agent to take such actions as
		are necessary to cause funds sufficient to make any such payments to be
		transferred as soon as practicable from the Collection Account to the Expense
		Account and/or the Lessee Funded Account, as the case may be. Following the
		transfer of such funds from the Collection Account, Genesis shall cause the
		Administrative Agent to pay or cause such payments to made in accordance with
		the foregoing provisions.

	  

	 (c) Limitation
		on Payments. It is
		understood and agreed that (i) all decisions as to the payment of funds
		from any Bank Account (including the timing, amount and payee thereof) shall be
		the decisions and responsibility of the Administrative Agent and not the
		decisions or responsibility of the Servicer (and the Servicer shall not be
		subject to any other responsibilities not specified in this Section 7 or
		any liability whatsoever for any such payments or any decisions of the
		Administrative Agent related thereto) and (ii) the Servicer shall have no
		responsibility as to the action taken (or omitted) by any banking institution
		upon receipt of any payment instructions from the Administrative Agent in
		accordance with the procedures set forth in this Section 7 or as to the
		application by any payee of any amounts paid to it from any Bank Account in
		accordance with the procedures set forth in this Section 7, including no
		responsibility as to whether such payee applies such payment toward the Stated
		Services Obligation for which such payment was made.

	  

	 SECTION 8. Professional
		and Other Services.

	  

	 SECTION 8.1. Legal
		Services. The
		Servicer shall provide or procure legal services, in all relevant
		jurisdictions, on behalf of the relevant Persons within the Genesis Group with
		respect to the

	 
		 

		
		  
			 SCHED 2.02(a)-12
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
		  2.02(a) TO

		SERVICING
		  AGREEMENT
 

	  

	 lease,
		sale or financing of the Aircraft Assets, any amendment or modification of any
		Lease, the enforcement of the rights of any Person within the Genesis Group
		under any Lease, any disputes that arise with respect to the Aircraft Assets or
		for any other purpose that the Servicer reasonably determines is necessary in
		connection with the performance of the Services. The Servicer shall provide
		such legal services (which services shall not, in any case, be deemed to
		include (i) services or transactions relating to taxation matters, the
		laws of foreign jurisdictions, capital markets transactions or novel or unique
		transactions or (ii) a high level of services at fiscal year end or other
		times of peak activity relative to the level of services at other times) by
		using its in-house legal staff where it shall deem appropriate and shall
		authorize outside counsel to provide such legal services where it shall deem
		appropriate. The Servicer anticipates that it will use outside counsel to
		perform some or all the Services set forth in Section 2.3 of this
		Schedule 2.02(a). Genesis recognizes, and shall cause each other Person
		within the Genesis Group to recognize, that from time to time the Servicer will
		retain legal counsel to provide legal services on behalf of Persons within the
		Genesis Group and, in the event that a dispute arises between any Person within
		the Genesis Group and the Servicer, Genesis agrees, and shall cause each other
		Person within the Genesis Group, to waive any conflict of interest any such
		counsel may have with respect to any such dispute or otherwise to enable the
		Servicer to retain such counsel on its own behalf (it being understood that
		notwithstanding any such waiver of a conflict of interest, any such Persons
		within the Genesis Group do not waive any rights to retain any such counsel on
		its own behalf if such counsel is so agreeable).

	  

	 SECTION 8.2. Tax
		Services. The
		Servicer shall arrange for such tax services and advice (which may be provided
		by the Servicer’s internal staff, to the extent available) as shall be
		reasonably necessary or appropriate in connection with the structuring of lease
		or sale transactions with respect to the Aircraft Assets or for any other
		purpose that the Servicer reasonably determines is necessary in connection with
		the performance of the Services; provided,
		however, that
		the Servicer shall not be responsible for arranging for any tax services with
		respect to the preparation of any tax returns or the acquisition of any
		Additional Aircraft or in connection with any Offering or other
		financing.

	  

	 SECTION 9. Reports;
		Custody.

	  

	 SECTION 9.1. Monthly
		Reports. On the
		Business Day immediately preceding each Calculation Date (or, to the extent
		impracticable, promptly thereafter), the Servicer shall provide to Genesis a
		written report substantially in the form attached as Exhibit A covering
		the period from the end of the last such report, if any, through and including
		the fourth Business Day prior to such Calculation Date.

	  

	 SECTION 9.2. Quarterly
		Reports. The
		Servicer shall provide written reports to Genesis within thirty days after the
		end of each calendar quarter substantially in the form of Exhibit B with
		respect to such calendar quarter.

	  

	 SECTION 9.3. Other
		Information.

	  

	 (a) To the
		extent the Servicer is in possession of the relevant information, the Servicer
		shall prepare and submit to Genesis the following information with respect to
		each Person within the Genesis Group:

	  

	 (i) upon
		request by Genesis, information with respect to transactions relating to
		Aircraft Assets necessary for each Person within the Genesis Group to prepare
		value added tax and other tax returns; 

	  

	 (ii) promptly
		after the occurrence thereof, notification to Genesis of any accident or
		incident of which the Servicer has notice involving any Aircraft Asset where
		(A) the potential loss in connection therewith exceeds the higher of the
		damage

	 
		 

		
		  
			 SCHED 2.02(a)-13
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
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		SERVICING
		  AGREEMENT
 

	  

	 notification
		threshold under the relevant Lease, if any, and $2,000,000 or (B) the
		potential liability in connection therewith exceeds $2,000,000;
		and

	  

	 (iii) advise
		Genesis of any settlement offers received by the Servicer with respect to any
		claim of damage or loss in excess of $10,000,000 with respect to an Aircraft
		Asset, and, upon request by Genesis, provide Genesis with copies of all
		relevant documentation related thereto and such other additional information
		and advice as Genesis may reasonably request and, upon direction from Genesis
		that any such settlement offer related thereto is acceptable, prepare the
		appropriate documentation, including releases and any indemnities required in
		connection with such releases, to give effect to such settlement offer and
		procure the execution of such documentation by Genesis (it being understood
		that settlement offers with respect to any such claims up to and including
		$10,000,000 may be settled by the Servicer independently);

	  

	 (b) Upon
		request by Genesis, the Servicer shall provide to Genesis copies of any
		financial statements received by the Servicer from any Lessee under and in
		accordance with the provisions of its Lease of an Aircraft Asset.

	  

	 (c) Upon
		request by Genesis, the Servicer shall provide to Genesis such factual
		non-proprietary and non-confidential information and data about the Aircraft
		Assets that the Servicer has created to provide the Services (exclusive of
		internal correspondence, approval materials, internal evaluations and similar
		information and data) or obtained from Lessees which may reasonably be
		requested by Genesis; provided,
		however, that
		the Servicer shall not be required to provide any valuations, interpretations,
		comparisons, evaluations, opinions, forecasts, predictions or analytical
		analysis.

	  

	 SECTION 9.4. Ratings
		Information. Upon
		request by Genesis, and subject to the rating agency’s handling of such
		information and data pursuant to its confidentiality policies, the Servicer
		shall provide to Genesis such information and data about the Aircraft Assets
		that the Servicer has created to provide the Services or obtained from Lessees
		and other commercially reasonable assistance relating to the Aircraft Assets as
		Genesis shall deem reasonably necessary or appropriate in connection with
		providing information to the ratings agencies for Genesis’s debt
		ratings.

	  

	 SECTION 9.5. Custody
		of Documents. The
		Servicer agrees to hold all original documents of any Person within the Genesis
		Group that relate to the Aircraft Assets in the possession of the Servicer in
		safe custody and according to the commercially reasonable instructions of
		Genesis.

	  

	 SECTION 9.6. Reporting
		Obligations Generally.
		Notwithstanding anything herein to the contrary, Genesis acknowledges and
		agrees that it shall be responsible for, and the Servicer shall not have any
		responsibility for, (a) any Compliance Obligations to any holders of
		outstanding Indebtedness, any holders of any other securities issued by any
		Person within the Genesis Group or any Governmental Authorities, (b) any
		instructions, discretion, judgments and assumptions related to such Compliance
		Obligations, and Genesis agrees to indemnify the Servicer and its Affiliates in
		respect of the foregoing as further provided in Section 11.05 of the
		Servicing Agreement, and (c) the completeness or accuracy of any
		information or data provided hereunder (except to the extent the Servicer is
		liable therefor pursuant to the proviso in Section 11.05).

	  

	 SECTION 9.7. Aircraft
		Assets Related Documents. The
		Servicer shall provide to the Security Trustee a copy of each fully executed
		Aircraft Assets Related Document received by the Servicer no later than ten
		Business Days after the receipt thereof by the Servicer. For purposes of this
		Section 9.7, the term

	 
		 

		
		  
			 SCHED 2.02(a)-14
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
		  2.02(a) TO

		SERVICING
		  AGREEMENT
 

	  

	 “Aircraft
		Assets Related Documents” does not include letters of intent, memoranda of
		understanding or similar documents.

	  

	 SECTION 9.8. Quarterly
		Meeting Directions. At
		each quarterly meeting contemplated by Section 5.01 of the Servicing
		Agreement, the Servicer will be advised by Genesis if there are MSA Aircraft
		Assets which Genesis instructs the Servicer to sell pursuant to Section 4
		of this Schedule 2.02(a) of the Servicing Agreement, and, with respect to
		any MSA Aircraft Asset with a Lease expiring within the next twelve (12) months
		of the end of the preceding calendar quarter, whether such MSA Aircraft Asset
		is not to be remarketed for lease or an extension of a Loan because such MSA
		Aircraft Asset is to be converted to a freighter aircraft (and is to be
		remarketed for lease after giving effect to such conversion) of is to be free
		and clear of a Lease (it being agreed that in the absence of an instruction not
		to remarket an MSA Aircraft Asset for lease), such MSA Aircraft Asset shall be
		remarketed for lease and in any event a MSA Aircraft Asset shall continue to be
		remarketed for lease (or an extension of an existing Lease), and
		notwithstanding any contrary institutions, may be leased if the Servicer has
		entered into any preliminary agreements (such as a letter of intent) with
		respect thereto or has entered into a lease or lease extension with respect
		thereto.

	  

	 SECTION 9.9. Public
		Filing Information. The
		Servicer shall provide to Genesis such information and data about the MSA
		Aircraft Assets that the Servicer has created to provide the Services or
		obtained from Lessees as Genesis may reasonably request to comply with its
		public statutory and filing obligations.

	 
		 

		
		  
			 SCHED 2.02(a)-15
		  

		  
			 
		  

		  

		  
 

		

		 
SCHEDULE
		2.02(a)(ii)

	 
		TO THE
		  SERVICING AGREEMENT

		 

		[Intentionally
		  Left Blank]
 

	 
		 

		
		  
			 SCHED 2.02(a)(ii)-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	  

	 
		SCHEDULE
		  2.02(a)(ii)

		TO THE
		  SERVICING AGREEMENT

		 
 

	 [Form of
		Officer’s Certificate for Genesis]

	  

	 The
		undersigned, representing Genesis Lease Limited, a Bermudan limited liability
		company, in accordance with Section 4(d) of Schedule 2.02(a) to the
		Servicing Agreement dated as of _______, (the “Servicing Agreement”)
		between Genesis and GE Commercial Aviation Services Limited (the
		“Servicer”), hereby certifies as follows:

	  

	 (a) the sale
		of the [insert description of asset(s) to be sold], which Genesis or the
		Administrative Agent has directed the Servicer to arrange pursuant to
		Section 4 of Schedule 2.02(a) to the Servicing Agreement (the
		“Sale”), complies in all respects with the terms of the ___________
		dated as of ________, between Genesis and _____________________;

	  

	 (b) the Sale
		has been approved by the board of directors of Genesis in accordance with
		Section 7.04(a) of the Servicing Agreement;

	  

	 (c) in
		connection with such Sale, the Servicer is entitled to rely upon this
		certification for all purposes of the Servicing Agreement and
		Schedule 2.02(a) thereto; and

	  

	 (d) the
		undersigned is a duly appointed, qualified and acting officer of Genesis and
		the signature appearing below after his/her name is a genuine
		signature.

	  

	 IN
		WITNESS WHEREOF, I have hereunto set my hand on and as of this [ ] day of
		[ ], [ ].

	  

	 
			 	 	 
	 	By:  	 
	 	
				

				Name:

				
	 	Title 

 

	 
		 

		
		  
			 SCHED 2.02(a)(ii)-2
		  

		  
			 
		  

		  

		  
 

		
 

	 SCHEDULE
		4.01 TO

	 THE
		SERVICING AGREEMENT

	  

	 Aircraft
		Assets

	  

	 
			
				SERIAL
				  #
 	
				MODEL

					
				OWNER

				
	
				[TO
				  COME]
 	
				[TO
				  COME]
 	
				[TO
				  COME]
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 
	
				 
 	
				 
 	
				 
 

 

	 
		 

		
		  
			 SCHED 4.01-1
		  

		  
			 
		  

		  

		  
 

		
 

	 

	 
		SCHEDULE
		  4.02 

		TO
		  THE
		  SERVICING AGREEMENT
 

	 Aircraft
		Assets Related Documents

	 
		 

		
		  
			 SCHED 4.02-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 SCHEDULE
		4.03

	 TO THE
		SERVICING AGREEMENT

	 Bank
		Accounts

	  

	 
			
				ACCOUNT
				  NAME
 	
				ACCOUNT
				  NUMBER
 
	
				GENESIS
				  LESSEE FUND
 	
				 
 
	
				GENESIS
				  RENTAL ACCT (DDA Account)
 	
				*

				
	
				GENESIS
				  RENTAL ACCT –
				  SUSPENSE
 	
				 
 
	
				GENESIS
				  COLLECTIONS ACCT
 	
				 
 
	
				GENESIS
				  EXPENSE ACCT
 	
				 
 
	
				GENESIS
				  OWNER ACCT
 	
				 
 
	
				 
 	
				 
 

 

	 
			*	 	
				NY

				

 

	  

	 ABA #:
		______________

	 Account
		#: ____________

	 Account
		Name: _____________________________________________

	 Reference:
		Genesis-[lessee][serial #]

	 
		 

		
		  
			 SCHED 4.03-1
		  

		  
			 
		  

		  

		  
 

		
 

	 

	 
		SCHEDULE
		  4.04(a) TO

		THE
		  SERVICING AGREEMENT

		
 
 

	 List
		of Persons within the Genesis

	 Group
		and Jurisdictions

	  

	 * These
		Persons will not be within the Genesis Group as of the Closing Date. These
		Persons will be within the Genesis Group as of date of each such Persons’
		applicable Delivery Date with respect to the related Original
		Aircraft.

	 
		 

		
		  
			 SCHED 4.04(a)-1
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
		  7.01 TO

		SERVICING
		  AGREEMENT

		
 
 

	 Responsibilities
		of Genesis Group

	  

	 
			
				A.

					
				With
				  respect to Aircraft Assets, each Person within the Genesis Group shall retain
				  such responsibilities as are expressly set forth in Article VII of the
				  Servicing Agreement.
 

 

	  

	 
			
				B.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, assets
				  which do not constitute Aircraft Assets and for any or all Genesis Group
				  Liabilities.
 

 

	  

	 
			
				C.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, all finance
				  functions which are not expressly the responsibility of the Servicer under the
				  Servicing Agreement. Such responsibilities of the Genesis Group shall
				  include:
 

 

	  

	 
			 	(i)	
				all
				  matters relating to the arrangement and procurement of any financings of any
				  type or nature for the Genesis Group;
 

 

	  

	 
			 	(ii)	
				all
				  matters relating to the management of borrowings and payments under such
				  financings and the management of the respective borrowers’ or
				  issuers’, as the case may be, compliance with the terms of such
				  financings, including compliance with the reporting requirements thereunder and
				  any computations required in connection with such reporting;
 

 

	  

	 
			 	(iii)	all matters relating to the
				arrangement and procurement of refinancings of any type or nature of any
				outstanding indebtedness of the Genesis Group;

 

	  

	 
			 	(iv)	all matters relating to the
				restructuring of any type or nature of any indebtedness of the Genesis Group;
				and

 

	  

	 
			 	(v)	all communications with creditors
				(other than trade creditors and Lessees) of any type or nature of the Genesis
				Group.

 

	  

	 It is
		expressly understood by the parties that while the Servicer will, to the extent
		expressly provided in Schedule 2.02(a) to the Servicing Agreement, provide
		Genesis with assistance and information required to assist in its compliance
		with its obligations and covenants under the applicable Financing Agreement to
		the extent such compliance specifically relates to the Services, the Servicer
		shall not deal directly with any creditors of any Person within the Genesis
		Group, except to the extent such dealings with trade creditors are incidental
		to the Servicer’s provision of the Services under the Servicing
		Agreement.

	  

	 
			
				D.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, all
				  treasury functions of the Genesis Group that are not expressly the
				  responsibility of the Servicer under the Servicing Agreement,
				  including:
 

 

	  

	 
			 	(i)	cash management;

 

	  

	 
			 	(ii)	currency and interest rate risk
				management (including the establishment of related policies and the arrangement
				and procurement of appropriate swap programs); and

 

	  

	 
			 	(iii)	reconciliation of all Bank
				Account-related information.

 

	 
		 

		
		  
			 SCHED 7.01-1
		  

		  
			 
		  

		  

		  
 

		
 

	 
		 

		SCHEDULE
		  7.01 TO

		SERVICING
		  AGREEMENT
 

	  

	 
			
				E.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, all
				  accounting functions not expressly the responsibility of the Servicer under the
				  Servicing Agreement, including:
 

 

	  

	 
			 	(i)	the monitoring of cash receipts and
				disbursements and accounts payable and accounts receivable of the Genesis
				Group;

 

	  

	 
			 	(ii)	the promulgation, maintenance,
				interpretation, amending and supplementing of accounting policies for the
				Genesis Group, and the review and approval of any potential exceptions to the
				accounting policies established by the Genesis Group;

 

	  

	 
			 	(iii)	maintaining the accounting ledgers,
				preparing balance sheets, statements of changes in shareholders’ equity
				and statements of income and cash flows and arranging for financial audits, as
				required, and for the preparation of audited financial reports for the Genesis
				Group;

 

	  

	 
			 	(iv)	the provision of overhead services to
				the Genesis Group; and

 

	  

	 
			 	(v)	preparing annual Lease Operating
				Budgets and Aircraft Asset Expenses Budgets, preparing and analyzing actual
				results to budget and performing profitability analysis.

 

	  

	 
			
				F.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, all
				  corporate secretarial activities and other matters related to the existence of
				  any Person within the Genesis Group.
 

 

	  

	 
			
				G.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, all matters
				  relating to the holders of the share capital or membership interests of any
				  Person within the Genesis Group.
 

 

	  

	 
			
				H.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, all legal
				  and regulatory matters which are not expressly the responsibility of the
				  Servicer under the Servicing Agreement, including:
 

 

	  

	 
			 	(i)	the preparation and filing of reports
				required to be filed with the U.S. Securities and Exchange Commission, any
				securities exchange or any other Governmental Authority;

 

	  

	 
			 	(ii)	all legal services (including the
				negotiation of documents) not constituting the provision of Services relating
				to all matters described herein for which any Person within the Genesis Group
				has responsibility;

 

	  

	 
			 	(iii)	the preparation and filing of
				corporate and tax returns of each Person within the Genesis Group with any
				Governmental Authority; and

 

	  

	 
			 	(iv)	the preparation of business plans,
				forecasts or other similar activities.

 

	  

	 
			
				I.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, any and all
				  litigation or other legal proceedings against or brought by any Person within
				  the Genesis Group, other than enforcement actions relating to any Aircraft
				  Assets (including any counterclaim arising from any such action to the extent
				  any such counterclaim relates to the Aircraft Assets) brought by Genesis or any
				  other Person within the Genesis Group commencing after the date of the
				  Servicing Agreement.
 

 

	 
		 

		
		  
			 SCHED 7.01-2
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
		  7.01 TO

		SERVICING
		  AGREEMENT
 

	  

	 
			
				J.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, the
				  arrangement and procurement of all insurance other than insurance related to
				  the Aircraft Assets which the Servicer is to arrange and procure (at the
				  expense of the Genesis Group) under the Servicing Agreement.
 

 

	  

	 
			
				K.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of, employees
				  of any Person within the Genesis Group.
 

 

	  

	 
			
				L.

					
				Each of
				  Genesis and each other Person within the Genesis Group shall be responsible
				  for, and the Servicer shall have no responsibilities in respect of purchases,
				  purchase orders and options to purchase Aircraft, except to the extent the same
				  constitute the provision of Services, or in respect of the decision to sell an
				  Aircraft Asset.
 

 

	  

	 
			
				M.

					
				Except
				  to the extent expressly provided for in Section 2.3 of
				  Schedule 2.02(a) to the Servicing Agreement, each of Genesis and each
				  other Person within the Genesis Group shall be responsible for, and the
				  Servicer shall have no responsibilities in respect of, keeping Genesis in
				  compliance with their obligations and covenants under any Financing
				  Agreements.
 

 

	  

	 Notwithstanding
		anything contained herein to the contrary, Genesis acknowledges and agrees that
		it shall be responsible for, and the Servicer shall not have any responsibility
		for, (a) any Compliance Obligations to any holders of outstanding Notes or
		to Genesis, any holders of any other securities issued by any Person within the
		Genesis Group or any Governmental Authorities and (b) all instructions,
		discretion, judgments and assumptions related to such Compliance Obligations,
		and Genesis agrees to indemnify the Servicer and its Affiliates in respect of
		the foregoing as further provided in Section 11.05 of the Servicing
		Agreement.

	 
		 

		
		  
			 SCHED 7.01-3
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
		  7.04 TO

		THE
		  SERVICING AGREEMENT

		
 
 

	 Liabilities
		Incurred in Ordinary Course of Business

	  

	 
			
				1.

					
				Acquisitions,
				  dispositions or replacements of Aircraft, Engines or Parts (including BFE and
				  IFE) including, without limitation, by leasing in.
 

 

	  

	 
			
				2.

					
				Modifications,
				  maintenance, overhauls, repairs, upgrades or other technical
				  expenditures.
 

 

	  

	 
			
				3.

					
				Dry
				  Leases and wet Leases (including extensions, renewals, amendments and
				  terminations thereof).
 

 

	  

	 
			
				4.

					
				Repossessions.

				

 

	  

	 
			
				5.

					
				Registrations
				  and Deregistrations.
 

 

	  

	 
			
				6.

					
				Governmental
				  approvals, certifications, permits, licenses, consents, filings and
				  authorizations.
 

 

	  

	 
			
				7.

					
				Third
				  party professional services including, without limitation, legal, tax advisory
				  and insurance.
 

 

	  

	 
			
				8.

					
				Taxes.

				

 

	  

	 
			
				9.

					
				Aircraft
				  operator transition costs (including, without limitation, flight operations,
				  storage and maintenance, technical consultants costs, and purchase, storage and
				  scrapping of spare Parts).
 

 

	  

	 
			
				10.

					
				Lessee
				  Liens.
 

 

	  

	 
			
				11.

					
				Insurance.

				

 

	 
		 

		
		  
			 SCHED 7.04-1
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
		  8.01 TO

		THE
		  SERVICING AGREEMENT

		
 

		Conditions
		  to Execution* 
 

	  

	 1. Each
		Person within the Genesis Group (other than Genesis) as to which a request
		therefor has been made shall have executed and delivered an Genesis Group
		Guarantee in favor of the Servicer substantially in the form attached to the
		Servicing Agreement as Appendix B.

	  

	 2. Each
		appendix, annex, exhibit or schedule to the Servicing Agreement and each
		Genesis Group Guarantee shall have been completed to the reasonable
		satisfaction of the Servicer and delivered with the Servicing Agreement and the
		Genesis Group Guarantees on the Closing Date.

	  

	 3. The
		Aircraft Assets Related Documents shall have been delivered to the Servicer,
		pursuant to Sections 2.02(f) and 4.02 of the Servicing Agreement, at the
		Servicer’s offices in Shannon, Ireland, on or prior to the Closing
		Date.

	  

	 4. Each
		person within the Genesis Group shall have executed and delivered to the
		Servicer the acknowledged power of attorney contemplated by Section 13.02
		of the Servicing Agreement.

	  

	 5. Genesis
		shall have delivered to the Servicer a copy of each relevant Financing
		Agreement, certified by Genesis as a true and complete copy
		thereof.

	  

	 6. Genesis
		and each other Person within the Genesis Group shall have delivered to the
		Servicer satisfactory evidence, in the reasonable judgment of the Servicer, as
		to the appointment of agents for service of process as required by the
		Documentary Conventions set forth in Appendix A to the Servicing
		Agreement.

	  

	 7. Genesis
		and each other Person within the Genesis Group shall have delivered to the
		Servicer, in form and substance reasonably satisfactory to the
		Servicer:

	  

	 (A) a
		certificate dated the Closing Date of the secretary, any assistant secretary or
		other appropriate officer of each such Person certifying as to:

	  

	 (1) the
		attached corporate charter, by-laws and other constituent documents of such
		Person, recently certified, in the case of any such document filed with the
		secretary of state or similar Governmental Authority of the jurisdiction in
		which such Person is organized by such Governmental Authority;

	  

	 (2) the
		absence of amendments to any constituent document since the date of the last
		amendment (a) shown on the official evidence as to filed constituent
		documents furnished pursuant to (B) below if such official evidence is
		available and in any event (b) reflected in the constituent documents
		furnished pursuant to (1) above;

	  

	 (3) resolutions
		or other written evidence of corporate action of the board of directors (or
		appropriate committee thereof) and, if applicable, the shareholders of such
		Person duly authorizing or ratifying the execution, delivery and performance by
		such Person of the Servicing Agreement and the Genesis Group Guarantee, as
		applicable, to which it is or is to be party and the absence of any
		modification, amendment or revocation thereof or any other resolutions relating
		thereto;

	  

	  
		
		  

		  
 

	 
		
		  	
				  *
 	 	
				  Items
					 which relate to MSA Aircraft Assets shall be deliverable when they become
					 applicable.
 

 

		
		   

		  
			 
				SCHED 8.01-1
			 

			 
				
			 

			 

			 
 

		  
 

		 

		
		  SCHEDULE
			 8.01 TO

		  THE
			 SERVICING AGREEMENT

		   
 
 

	 (4) the
		absence of proceedings for the dissolution, liquidation, receivership or
		similar proceedings with respect to such Person;

	  

	 (5) if
		applicable, its corporate seal; and

	  

	 (6) the
		incumbency and signatures of the individuals authorized to execute and deliver
		documents on such Person’s behalf; and

	  

	 (B) to the
		extent available from appropriate Governmental Authorities, recent official
		evidence from appropriate Governmental Authorities of appropriate jurisdictions
		as to constituent documents on file, good standing, payment of franchise taxes
		and qualification to do business in the jurisdiction in which such Person is
		organized.

	  

	 8. Genesis
		and each other Person within the Genesis Group shall have delivered to the
		Servicer an Officer’s Certificate dated the Closing Date, in form and
		substance reasonably satisfactory to the Servicer, stating that:

	  

	 (A) each
		representation and warranty of such Person contained in the Servicing Agreement
		and Genesis Group Guarantee, as applicable, is true and correct as of the
		Closing Date;

	  

	 (B) such
		Person has duly performed and complied in all material respects with all
		covenants, agreements and conditions contained in the Servicing Agreement and
		Genesis Group Guarantee, as applicable, required to be performed or complied
		with by it on or before the Closing Date;

	  

	 (C) no event
		has occurred and is continuing or condition exists or would result from the
		consummation of any transaction contemplated by the Servicing Agreement or
		Genesis Group Guarantee, as applicable, to which such Person is a party that
		constitutes, or with the giving of notice or lapse of time or both would
		constitute, a default in any material respect under such Servicing Agreement or
		Genesis Group Guarantee, as applicable, or a breach thereof or would give any
		party thereto the right to terminate, or not to perform any material obligation
		under, any thereof; and

	  

	 (D) the
		Servicing Agreement and Genesis Group Guarantee, as applicable, to which it is
		a party is in full force and effect with respect to it, has not been amended,
		modified or terminated and constitutes its legal, valid and binding obligation
		enforceable against it in accordance with its terms (subject to bankruptcy and
		similar laws applicable to creditors’ rights generally and to general
		equitable principles).

	  

	 9. The
		Servicer (and such Affiliates of the Servicer that the Servicer designates as
		addressees) shall have received legal opinions dated as of the Closing Date,
		which shall cover the following matters and shall also cover such other matters
		as the Servicer and its counsel may reasonably request:

	  

	 (A) Each of
		Genesis and each other Person within the Genesis Group has been duly organized
		and is validly existing as a trust, a corporation or a limited liability
		company in good standing under the laws of its jurisdiction or organization,
		incorporation or formation, respectively.

	  

	 (B) Neither
		the execution and delivery of the Servicing Agreement and Genesis Group
		Guarantee, as applicable, nor the consummation of the transactions contemplated
		thereby

	 
		 

		
		  
			 SCHED 8.01-2
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		
		  SCHEDULE
			 8.01 TO

		  THE
			 SERVICING AGREEMENT

		  
 
 
 

	  nor
		the performance by Genesis or any other Person within the Genesis Group of any
		of their obligations thereunder in accordance with the terms thereof will
		(i) violate any order, writ, injunction, judgment or decree in effect as
		of the date hereof of any [insert appropriate courts] to which Genesis or any
		other Person within the Genesis Group, or any of their respective Affiliates,
		is a party or by which any of their respective properties or assets are bound,
		(ii) violate in any material respect any applicable law of [insert
		applicable law] in effect as of the date hereof or (iii) result in any
		conflict with, breach of or default (or give rise to any right of termination,
		cancellation or acceleration) under, any of the terms, conditions or provisions
		of any note, bond, mortgage, indenture, warrant or other similar instrument or
		any license, permit material agreement or other material obligation to which
		any such Person is a party or by which any such Person’s properties or
		assets may be bound.

	  

	 (C) Upon
		execution and delivery thereof, the Servicing Agreement and the Genesis Group
		Guarantee, as applicable, to which Genesis and each other Person within the
		Genesis Group is a party shall be valid and legally binding on and enforceable
		against such party in accordance with its terms, subject to applicable
		bankruptcy, reorganization, insolvency, fraudulent transfer, moratorium or
		other laws affecting creditors’ rights generally from time to time in
		effect and to general equity principles regardless of whether such
		enforceability is considered in a proceeding in equity or at law.

	  

	 (D) No
		action, consent or approval by, or filing with, any [insert appropriate
		Governmental Authorities] or other third party is required in connection with
		the execution, delivery or performance by Genesis or any other Person within
		the Genesis Group of the Servicing Agreement and the Genesis Group Guarantee,
		as applicable, to which it is a party or the consummation by Genesis or any
		other Person within the Genesis Group of the transactions contemplated
		thereby.

	  

	 10. The
		Servicer shall have delivered to Genesis, in form and substance reasonably
		satisfactory to Genesis:

	  

	 (A) a
		certificate dated the Closing Date of the secretary, any assistant secretary or
		another appropriate officer of the Servicer certifying as to:

	  

	 (1) the
		attached corporate charter, by-laws and other constituent documents of the
		Servicer, recently certified, in the case of any such document filed with the
		secretary of state or similar Governmental Authority of the jurisdiction in
		which the Servicer is organized by such Governmental Authority;

	  

	 (2) the
		absence of amendments to any constituent document since the date of the last
		amendment (a) shown on the official evidence as to filed constituent
		documents furnished pursuant to (B) below if such official evidence is
		available and (b) in any event reflected in the constituent documents
		furnished pursuant to (1) above;

	  

	 (3) resolutions
		or other written evidence of corporate action of the board of directors (or
		appropriate committee thereof) and, if applicable, the shareholders of the
		Servicer duly authorizing or ratifying the execution, delivery and performance
		by the Servicer of the Servicing Agreement and the absence of any modification,
		amendment or revocation thereof or any other resolutions relating
		thereto;

	  

	 (4) the
		absence of proceedings for the dissolution, liquidation, receivership or
		similar proceedings with respect to the Servicer;

	 
		 

		
		  
			 SCHED 8.01-3
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
		  8.01 TO

		THE
		  SERVICING AGREEMENT
 

	  

	 (5) if
		applicable, its corporate seal; and

	  

	 (6) the
		incumbency and signatures of the individuals authorized to execute and deliver
		documents on the Servicer’s behalf; and

	  

	 (B) to the
		extent available from appropriate Governmental Authorities, recent official
		evidence from appropriate Governmental Authorities of appropriate jurisdictions
		as to constituent documents on file, payment of franchise taxes and
		qualification to do business in the jurisdiction in which the Servicer is
		organized.

	  

	 11. The
		Servicer shall have delivered to Genesis an Officer’s Certificate dated
		the Closing Date, in form and substance reasonably satisfactory to Genesis,
		stating that:

	  

	 (A) each
		representation and warranty of the Servicer contained in the Servicing
		Agreement is true and correct as of the Closing Date;

	  

	 (B) the
		Servicer has duly performed and complied in all material respects with all
		covenants, agreements and conditions contained in the Servicing Agreement
		required to be performed or complied with by it on or before the Closing
		Date;

	  

	 (C) no event
		has occurred and is continuing or condition exists or would result from the
		consummation of any transaction contemplated by the Servicing Agreement that
		constitutes, or with the giving of notice or lapse of time or both would
		constitute, a default in any material respect under the Servicing Agreement or
		a breach thereof or would give any party thereto the right to terminate, or not
		to perform any material obligation under, the Servicing Agreement;
		and

	  

	 (D) the
		Servicing Agreement is in full force and effect with respect to it, has not
		been amended, modified or terminated and constitutes its legal, valid and
		binding obligation enforceable against it in accordance with its
		terms.

	  

	 12. Genesis
		shall have received legal opinions dated as of the Closing Date substantially
		consistent with the opinions to be given by Genesis as provided in Section 9
		above. 

	 
		 

		
		  
			 SCHED 8.01-4
		  

		  
			 
		  

		  

		  
 

		

		 
SCHEDULE
		9.06(a) TO

	 
		THE
		  SERVICING AGREEMENT

		
 
 

	 Overhead
		Expenses

	  

	 
			
				1.

					
				Salary,
				  bonuses, company cars and benefits of Servicer’s employees.

				

 

	  

	 
			
				2.

					
				Travel
				  and entertainment expenses of Servicer’s employees.
 

 

	  

	 
			
				3.

					
				Office,
				  office equipment and rental expenses of the Servicer.
 

 

	  

	 
			
				4.

					
				Telecommunications
				  expenses of the Servicer.
 

 

	  

	 
			
				5.

					
				Advertising
				  and promotional expenses of the Servicer.
 

 

	  

	 
			
				6.

					
				Taxes on
				  the income, receipts, profits, gains, net worth or franchise of Servicer and
				  payroll, employment and social security Taxes for employees of the
				  Servicer.
 

 

	 
		 

		
		  
			 SCHED 9.06(a)-1
		  

		  
			 
		  

		  

		  
 

		
 

	  

	 
		SCHEDULE
		  9.06(b) TO

		THE
		  SERVICING AGREEMENT

 

	  

	 Categories
		of Aircraft Asset Expenses

	  

	 
			
				1.

					
				Storage,
				  maintenance, repossession (whether or not successful), reconfiguration,
				  refurbishment, delivery, redelivery, and repair expenses relating to Aircraft
				  Assets, including all expenses incurred by the Servicer relating to compliance
				  with airworthiness directives and service bulletins, which include the fees and
				  expenses of independent technicians and other experts retained for any of the
				  foregoing purposes.
 

 

	  

	 
			
				2.

					
				Insurance
				  expense related to Aircraft Assets, including all fees and expenses of
				  insurance advisors and brokers.
 

 

	  

	 
			
				3.

					
				Expenses
				  incurred in connection with the effectuation or acceptance of delivery of any
				  Aircraft Asset, whether being sold or leased by any Person within the Genesis
				  Group.
 

 

	  

	 
			
				4.

					
				Special
				  studies expenses related to Aircraft Assets authorized by any Person within the
				  Genesis Group and fees and expenses of independent advisors retained for
				  providing valuation and appraisal services and general financial advice such as
				  structuring leases and sales and financing transactions.
 

 

	  

	 
			
				5.

					
				Outside
				  legal counsel, advisory fees and expenses and other professional fees and
				  expenses related to Aircraft Assets (including in connection with the purchase,
				  sale, delivery, redelivery, lease, re-lease, lease extension or repossession of
				  Aircraft Assets or any enforcement actions relating to any lease).

				

 

	  

	 
			
				6.

					
				Subject
				  to Section 7.04 of the Servicing Agreement, extraordinary fees and expenses not
				  incurred in the ordinary course of business which the Servicer reasonably
				  determines appropriate in rendering the Services.
 

 

	  

	 
			
				7.

					
				Taxes
				  reimbursable to Servicer pursuant to Section 9.07.
 

 

	  

	 
			
				8.

					
				Any
				  other expenses relating to or associated with Aircraft Assets other than
				  Overhead Expenses of the Servicer and such Overhead Expenses of the Genesis
				  Group as are expressly the responsibility of the Servicer under
				  Section 9.06(a) of the Servicing Agreement.
 

 

	 
		 

		
		  
			 SCHED 9.06(b)-1 
		  

		  
			 
		  

		  

		  
 

		

		 
SCHEDULE
		13.02 TO THE

	 
		SERVICING
		  AGREEMENT

MANAGEMENT
		SERVICES

	  

	 POWER OF
		ATTORNEY

	  

	 OF

	  

	 [GRANTOR]

	  

	 WHEREAS
		[GRANTOR], having its [registered] office at [insert address] desires to
		appoint GE COMMERCIAL AVIATION SERVICES LIMITED having its registered
		office at 1 Earlsfort Centre, Hatch Street, Dublin 2, Ireland (“the
		Attorney”) as the true and lawful attorney of the Grantor for and in the
		name of and on behalf of the Grantor in such Attorney’s absolute
		discretion to execute each and every Requisite Document and Requisite Act as
		defined below and do all or any of the acts or things hereinafter
		mentioned.

	  

	 KNOW ALL
		MEN BY THESE PRESENTS that in consideration for the mutual promises and
		benefits set forth in the Servicing Agreement (defined below) the Grantor does
		hereby make, constitute and irrevocably and unconditionally appoint for the
		period (the “Term”) as and from the date hereof until termination or
		expiry of the Servicing Agreement between ________________ and GE Commercial
		Aviation Services Limited dated as of ________ (“the Servicing
		Agreement”), in accordance with its terms, the Attorney as a true and
		lawful attorney of the Grantor for and in the name of and on behalf of the
		Grantor with absolute discretion to exercise, do, execute and/or deliver all or
		any of the acts, documents and things hereinafter mentioned, that is to
		say:

	  

	 
			
				1.

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

 

	  

	 
			
				2.

					
				To make
				  such amendments, modifications and variations to the Requisite Documents and to
				  enter into ancillary documentation in respect thereof, all on such terms as any
				  such Attorney may, in its sole discretion, determine from time to time for and
				  on behalf of the Grantor; and to make, give, sign, execute and do all things
				  including, without limitation, any material acts which may be necessary in
				  order to effect the terms of such Requisite Documents or in connection with the
				  making, signature, executions and delivery of the Requisite Documents or any
				  other documents required to be executed by the Grantor in connection therewith
				  or the performance of any acts, matters and things contemplated thereby or by
				  the Requisite Acts as may be necessary in accordance with the provision of the
				  Services.
 

 

	  

	 
			
				3.

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

 

	  

	 
			
				4.

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

 

	 
		 

		
		  
			 SCHED 13.02-1
		  

		  
			 
		  

		  

		  
 

		

		 
SCHEDULE
		13.02 TO THE

	 
		SERVICING
		  AGREEMENT
 

	  

	 IT IS
		HEREBY DECLARED THAT:-

	  

	 
			 	
				(A)

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

 

	  

	 
			 	
				(B)

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

 

	  

	 
			 	
				(C)

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

 

	  

	 
			 	
				(D)

					
				Subject
				  to the provisions of the Servicing Agreement any Attorney or other person,
				  making or doing any payment or act, in good faith, in pursuance of this Power
				  of Attorney shall not be liable in respect of the payment or act by reason that
				  before the payment or act the Grantor was insolvent or had revoked this power
				  if the fact of such insolvency or revocation was not at the time of payment or
				  act known to the Attorney or other person making or doing same.

				

 

	  

	 
			 	
				(E)

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

 

	  

	 
			 	
				(F)

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

 

	  

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

	  

	 
		
		  	SIGNED BY:
				  _______________________________	 	 
	For and
				  on behalf of
				  [GRANTOR]

				  in the
					 presence of:
 	 	 

 
 

	 
		 

		
		  
			 SCHED 13.02-2
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 ANNEX 1
		TO THE 

	 SERVICING
		AGREEMENT

	 INSURANCE
		GUIDELINES

	  

	 
			
				1.

					
				Hull
				  and Repossession Insurance: With
				  respect to any MSA Aircraft Asset, hull and repossession insurance, when
				  applicable, shall be maintained in an amount equal to the greater of
				  (a) the appraised value for such Aircraft (as such appraised value is set
				  forth on Schedule 1(a) attached hereto, as the same shall be amended in
				  writing from time to time by Genesis, which amendment Genesis shall provide to
				  Servicer promptly after any change in any such appraised value), or
				  (b) 110% of the net book value of such Aircraft (as such net book value is
				  set forth on Schedule 1(b) attached hereto, as the same shall be amended
				  in writing from time to time by Genesis, which amendment Genesis shall provide
				  to Servicer promptly after any change in such net book value), and
				  (c) such other amounts as may be directed in writing by Genesis from time
				  to time. Spare engines and parts, if any, shall be insured on the basis of
				  their “replacement cost”.
 

 

	  

	 
			
				2.

					
				Liability
				  Insurance:
				  Liability insurance shall be maintained for each MSA Aircraft Asset and
				  occurrence in an amount not less than the amount set forth on Schedule 2
				  attached hereto, as the same shall be amended in writing from time to time by
				  Genesis. Liability insurance shall be maintained for each non-passenger MSA
				  Aircraft Asset and occurrence in an amount not less than 75% of the amounts set
				  forth on Schedule 2. The amounts of liability insurance applicable to a
				  MSA Aircraft Asset that is in storage or otherwise grounded may be reduced in a
				  manner consistent with paragraph 5 below.
 

 

	  

	 
			
				3.

					
				Insurance
				  Deductibles:

				

 

	  

	 
			 	
				(a)

					
				Deductibles
				  and self-insurance for MSA Aircraft Assets subject to a Lease may be maintained
				  in an amount, which is substantially consistent with the customary practices of
				  the Servicer.
 

 

	  

	 
			 	
				(b)

					
				Deductibles
				  for MSA Aircraft Assets off-lease shall be maintained in respect of any one
				  occurrence in respect of such MSA Aircraft Assets in an amount equal to
				  $200,000 or such other higher amount as Genesis may direct in writing from time
				  to time.
 

 

	  

	 
			
				4.

					
				Repossession
				  Insurance:
				  Subject to prior confirmation from Genesis on a case by case basis,
				  repossession insurance shall be maintained for MSA Aircraft Assets subject to a
				  Lease that are or will be registered in any jurisdiction listed on
				  Schedule 4 attached hereto, as the same may be amended in writing from
				  time to time by Genesis.
 

 

	  

	 
			
				5.

					
				Other
				  Insurance Matters: Apart
				  from the matters set forth above, the coverage and terms of any insurance with
				  respect to any MSA Aircraft Assets (a) subject to a Lease, shall be
				  negotiated on a basis consistent with Sections 3(b) and (c) of
				  Schedule 2.02(a) to the Servicing Agreement and (b) not subject to a
				  Lease, shall be substantially consistent with the customary practices of the
				  Servicer regarding similar equipment.
 

 

	  

	 
			
				6.

					
				Named
				  Insureds: Any
				  insurance arrangements entered into with respect to any MSA Aircraft Assets
				  shall include as named insureds such Persons as are set forth on
				  Schedule 6 attached hereto, as the same shall be amended in writing from
				  time to time by Genesis. The Servicer shall use commercially reasonable efforts
				  to cause Lessees to include the Persons set forth in such clauses as named
				  insureds in connection with liability insurance; provided,
				  however, that
				  to the extent that a Lessee is not willing to include such Persons, the
				  Servicer will, subject to the provisions of the Servicing Agreement and at the
				  expense of Genesis, arrange for alternative liability insurance coverage with
				  respect to such Persons. GECAS shall, and such of its Affiliates

				

 

	 
		 

		
		  
			 ANNEX 1-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 ANNEX 1
		TO THE 

	 
		SERVICING
		  AGREEMENT
 

	  

	 
		 

		
		  	
				   
 	
				  as it
					 determines appropriate may, in GECAS’ sole discretion, be named as
					 additional insureds in connection with any such liability insurance
					 arrangements.
 

 
 

	  

	 
			
				7.

					
				Currencies: Any
				  insurance requirement stated in U.S. dollar terms shall be interpreted to
				  include the foreign currency equivalent thereto from time to time if any such
				  insurance related thereto is denominated in a currency other than U.S.
				  dollars.
 

 

	  

	 
			
				8.

					
				Availability: The
				  insurance guidelines set forth herein are subject in all cases to such
				  insurance being generally available in the relevant insurance market or under
				  applicable governmental programs, from time to time.
 

 

	  

	 
			
				9.

					
				Revisions
				  to Required Amounts of Insurance:
				  Genesis shall use commercially reasonable efforts to provide to the Servicer
				  amendments to Schedules 1(a) and 1(c) attached hereto, on a quarterly
				  basis, and Schedule 1(b) attached hereto, on an annual basis, promptly
				  (and in any event within seven Business Days) following receipt or calculation
				  by Genesis of the relevant information that would form the basis of any such
				  amendment. With respect to each proposed amendment to any schedule to this
				  Annex 1, Genesis shall provide the Servicer with (x) a signed hard copy
				  thereof and (y) an e-mailed Excel version thereof. The Servicer shall not
				  be required to implement any change in the amount of insurance required to be
				  maintained with respect to any MSA Aircraft Asset pursuant to Section 1.3
				  of Schedule 2.02(a) to the Servicing Agreement and this Annex 1 as a
				  result of the receipt by the Servicer from Genesis of any written notice,
				  direction, amendment or similar communication pursuant to this Annex 1 until
				  the seventh Business Day following receipt thereof (including, with respect to
				  the immediately preceding sentence, receipt of the items listed in both
				  clauses (x) and (y) thereof).
 

 

	  

	 
		
		  	10.	 	
				  War
					 Risk Insurance. Unless
					 otherwise agreed between Genesis and the Servicer, war risk hull and liability
					 insurance in respect of the MSA Aircraft Assets shall be maintained in a manner
					 which is substantially consistent with the practices of the Servicer
					 .
 

 

		
		   

		  
			 
				ANNEX 1-2
			 

			 
				
			 

			 

			 
 

		  

		   
 

		
		  SCHEDULE
			 1(a) TO ANNEX 1

		  TO THE
			 SERVICING AGREEMENT
 

		 
 

	 Appraised
		Values

	 

		
		  	
				   
 	
				  Type

				  	 	
				  Serial

				  Number

				  	 	
				  Appraised

				  Value

				  
	
				   
 	
				   
 	 	
				   
 	 	
				   
 
	
				  1

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  2

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  3

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  4

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  5

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  6

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  7

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  8

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  9

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  10

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  11

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  12

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  13

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  14

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  15

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  16

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  17

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  18

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  19

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  20

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  21

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  22

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  23

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  24

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  25

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  26

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  27

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  28

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  29

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  30

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  31

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  32

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  33

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  34

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  35

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  36

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  37

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  38

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  39

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  40

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  41

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  42

				  	
				   
 	 	
				   
 	 	
				   
 
	
				  43

				  	
				   
 	 	
				   
 	 	
				   
 
	
				   
 	
				  Total

				  	 	
				   
 	 	
				   
 

 
 

	  

	 
		 

		
		  
			 SCHEDULE 1(a)-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 SCHEDULE
		1(b) TO ANNEX 1

	 
		TO THE
		  SERVICING AGREEMENT

		 
 

	 Net
		Book Value

	 
		 

		
		  	
				   
 	
				  Type

				  	
				   
 	
				  Serial

				  Number

				  	
				   
 	
				  Net
					 Book

				  Value

				  	
				   
 	
				  110%
					 of Net

				  Book
					 Value
 
	
				   
 	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  1

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  2

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  3

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  4

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  5

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  6

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  7

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  8

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  9

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  10

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  11

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  12

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  13

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  14

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  15

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  16

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  17

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  18

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  19

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  20

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  21

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  22

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  23

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  24

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  25

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  26

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  27

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  28

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  29

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  30

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  31

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  32

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  33

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  34

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  35

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  36

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  37

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  38

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  39

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  40

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  41

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  42

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				  43

				  	
				   
 	 	
				   
 	 	
				   
 	 	
				   
 
	
				   
 	
				  Total

				  	 	
				   
 	 	
				   
 	 	
				   
 

 
 

	  

	 
		 

		
		  
			 SCHEDULE 1(b)-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 SCHEDULE
		2 TO

	 
		ANNEX 1
		  TO THE

		SERVICING
		  AGREEMENT

		 

		Liability
		  Insurance
 

	 
		 

		
		  	
				  Model

				  	 	
				  Minimum
					 Limit
 
	
				  RJs

				  	 	
				  US $250
					 million
 
	
				   
 	 	
				   
 
	
				  B737/A320/A319B757

				  	 	
				  US $500
					 million ($300 million for North American air carriers)
 
	
				   
 	 	
				   
 
	
				  A330/A340/MD11/B767/B777/B787

				  	 	
				  US $600
					 million
 
	 	 	 
	
				  B747/A380

				  	 	
				  US $750
					 million
 

 
 

	  

	 
		Notwithstanding
		  the foregoing, with respect to any liability insurance maintained by any Person
		  within the Genesis Group for the benefit of the Persons listed in
		  clause 2(h) of Schedule 6 to Annex 1, such amount of insurance shall
		  be not less than US$750 million for wide-body Aircraft, US$500 million for
		  narrow-body Aircraft and US$350 million for regional jet Aircraft.

		

	 
		 

		
		  
			 SCHED 2-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 SCHEDULE
		4 TO ANNEX 1

	 
		TO THE
		  SERVICING AGREEMENT
 

	 

		Repossession
		  Insurance

		 

		
		  	
				  Country

				  	 
	
				   
 	 
	
				  Belarus

				  	 
	
				  Bhutan

				  	 
	
				  Kazakhstan

				  	 
	
				  Mongolia

				  	 

 
 

	 
		 

		
		  
			 SCHED 4-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 
		SCHEDULE
		  6 TO ANNEX 1

		TO THE
		  SERVICING AGREEMENT

		 
 

	 Named
		Insureds

	  

	 
			1.	 	
				Hull and
				  Repossession Insurance
 

 

	  

	 with
		respect to each MSA Aircraft Asset, owner (and head lessor, if applicable)
		and/or lessor and intermediate lessor(s), if any, of Aircraft and/or the
		Security Trustee.

	  

	 
			2.	 	
				Liability
				  Insurance
 

 

	  

	 (a) owner
		(and head lessor, if applicable) of Aircraft (Person within Genesis
		Group)

	  

	 (b) intermediate
		lessor(s), if any, of Aircraft (Person(s) within Genesis Group)

	  

	 (c) GECAS,
		the Servicer

	  

	 (d) the
		Administrative Agent

	  

	 (e) the
		Security Trustee

	  

	 (f) Genesis

	  

	 (g) with
		respect to each MSA Aircraft Asset acquired on or after the date hereof, the
		relevant “Seller Indemnitees” (as defined in the applicable asset
		purchase agreement) during the period commencing on the date of delivery of
		such MSA Aircraft Asset and ending on the earlier of (i) the second
		anniversary of such date of delivery and (ii) the date of completion of
		the next major check in respect of such MSA Aircraft Asset.

	 
		 

		
		  
			 SCHED 6-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 ANNEX 2
		TO THE

	 
		SERVICING
		  AGREEMENT

		 
 

	 [Intentionally
		Left Blank]

	 
		 

		
		  
			 ANNEX 2-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 APPENDIX
		A TO THE

	 
		SERVICING
		  AGREEMENT

		 
 

	 CONSTRUCTION
		AND USAGE; DEFINITIONS

	  

	 Construction
		and Usage

	  

	 The
		terms defined below have the meanings set forth below for all purposes.
		“Include”, “includes” and “including” shall be
		deemed to be followed by “without limitation” whether or not they are
		in fact followed by such words or words of like import. “Writing”,
		“written” and comparable terms refer to printing, typing, lithography
		or other means of reproducing words in a visible form (including electronic
		mail). Any agreement or instrument or any law, rule or regulation of any
		Governmental Authority defined or referred to below means such agreement or
		instrument or such law, rule or regulation as from time to time amended,
		modified or supplemented, including (in the case of agreements or instruments)
		by waiver or consent and (in the case of such law, rule or regulation) by
		succession of any comparable successor law, rule or regulation and includes (in
		the case of agreements or instruments) references to all attachments thereto
		and instruments incorporated therein. References to a Person are also to its
		permitted successors and assigns. Any term defined below by reference to any
		agreement or instrument or any law, rule or regulation of any Governmental
		Authority has such meaning whether or not such agreement, instrument or law,
		rule or regulation is in effect. “Agreement”, “hereof”,
		“herein”, “hereunder” and comparable terms refer to the
		agreement in which such term appears (including all exhibits and schedules
		hereto) and not to any particular article, section, clause or other subdivision
		thereof or attachment thereto. References to any gender include, unless the
		context otherwise requires, references to all genders, and references to the
		singular include, unless the context otherwise requires, references to the
		plural and vice versa. “Shall” and “will” have equal force
		and effect. References to “Article”, “Section”,
		“Clause” or another subdivision or to an attachment are, unless the
		context otherwise requires, to an article, section, clause or subdivision of or
		attachment to such agreement.

	  

	 Definitions

	  

	 “Accounting
		Claims”
		has the meaning assigned to such term in Section 11.05 of the Servicing
		Agreement.

	  

	 “Additional
		Aircraft”
		means any Aircraft that is not then an Aircraft Asset proposed to be acquired
		by a Person in the Genesis Group in accordance with the provisions of the
		Servicing Agreement.

	  

	 “Administrative
		Agency Agreement”
		means the Administrative Agency Agreement dated as of ________, 2006, between
		_____________, as Administrative Agent, Genesis, the issuer subsidiaries
		defined therein and ____________________________.

	  

	 “Administrative
		Agent”
		means _______________, as administrative agent under the Administrative Agency
		Agreement.

	  

	 “Adviser”
		means an insurance adviser engaged by the Servicer in accordance with
		Section 1.3(b) of Schedule 2.02(a) to the Servicing
		Agreement.

	  

	 “Affiliate”
		means a Person that directly, or indirectly through one or more intermediaries,
		controls or is controlled by, or is under common control with, the Person
		specified, including a trust of which the Person specified or any of its
		Affiliates is a beneficiary; provided,
		however, that
		Genesis and its respective Subsidiaries, on the one part, and GE and its
		Subsidiaries, on the other part, shall not be considered to be Affiliates of
		each other .

	  

	 “After-Tax
		Basis”
		means on a basis such that any payment received, deemed to have been received
		or receivable by any Person shall, if necessary, be supplemented by a further
		payment to that 

	 
		 

		
		  
			 APPENDIX A-1
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 APPENDIX
		A TO THE

	 
		SERVICING
		  AGREEMENT

		 
 

	 Person
		so that the sum of the two payments shall, after deduction of all Taxes
		resulting from the receipt (actual or constructive) or accrual of such payments
		(after taking into account any current deduction to which such Person shall be
		entitled with respect to the amount that gave rise to the underlying payment),
		be equal to the payment received, deemed to have been received or
		receivable.

	  

	 “Aggregate
		Gross Proceeds”
		has the meaning assigned to such term in Section 9.04(b) of the Servicing
		Agreement.

	  

	 “Aircraft”
		means any airframe together with (i) any Engine installed on such airframe (or
		any Engine substituted therefor), (ii) parts or components thereof,
		(iii) spare parts or ancillary equipment or devices furnished therewith
		and (iv) the Aircraft Documents with respect thereto.

	  

	 “Aircraft
		Asset Expenses”
		has the meaning assigned to such term in Section 9.06(b)(i) of the
		Servicing Agreement.

	  

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

	  

	 “Aircraft
		Assets”
		means all Aircraft owned or leased-in by any Person within the Genesis Group as
		of the Closing Date or at any time or from time to time thereafter (taking into
		account any acquisitions or dispositions made in accordance with this
		Agreement), including all Original Aircraft; provided,
		however, that
		Aircraft Assets shall not include (x) any Aircraft Asset that shall have
		ceased to be an Aircraft Asset in accordance with the provisions of Sections
		2.04(b) or 3.02(d) of the Servicing Agreement or the corresponding provisions
		of the WHCO Servicing Agreement or any Securitization Servicing Agreement, but
		shall include any Former Aircraft Asset that shall have become an Aircraft
		Asset pursuant to Section 6.07 of the Servicing Agreement or the
		corresponding provisions of the WHCO Servicing Agreement or any Securitization
		Servicing Agreement or (y) any Aircraft Asset in respect of which the
		obligation of the Servicer to provide Services shall have been terminated in
		accordance with Section 10.02 of the Servicing Agreement or
		Section 10.02 of the WHCO Servicing Agreement or any Securitization
		Servicing Agreement or (z) any Aircraft in respect of which the Servicer
		has notified Genesis that the Servicer will not provide Services pursuant to
		Section 2.02(h) of the Servicing Agreement.

	  

	 “Aircraft
		Assets Related Documents”
		means all Leases and other contracts and agreements of Persons within the
		Genesis Group the terms of which relate to or affect any of the MSA Aircraft
		Assets.

	  

	 “Aircraft
		Documents”
		means, in relation to an Aircraft, all records, logs, technical data, manuals
		and other documents relating to the maintenance and operation of such
		Aircraft.

	  

	 “Annex
		1”
		means Annex 1 to the Servicing Agreement.

	  

	 “Annex
		2”
		means Annex 2 to the Servicing Agreement.

	  

	 “Annual
		Review”
		has the meaning assigned to such term in Section 3(c)(i) of
		Schedule 2.02(a) to the Servicing Agreement.

	  

	 “Anti-Terrorism
		Laws”
		means the USA Patriot Act and the Executive Order.

	  

	 “Applicable
		Law”
		with respect to any Person means any law, statute, ordinance, rule or
		regulation or code of conduct or practice of any U.S. Federal, state or local
		Governmental Authority, the 

	 
		 

		
		  
			 APPENDIX A-2
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 APPENDIX
		A TO THE

	 SERVICING
		AGREEMENT

	  

	 EU or
		any Irish or other foreign or international Governmental Authority that applies
		to such Person or any of its properties or assets.

	  

	 “Appraised
		Value”
		means with respect to any Aircraft, the average of the most recent appraisals
		by each of the Appraisers of the Base Value (and described in such Appraisals)
		of such Aircraft.

	  

	 “Appraiser”
		means at least three independent appraisers that are members of the
		International Society of Transport Aircraft Trading or any similar
		organization.

	  

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

	  

	 “Asset
		Purchase Agreement”
		means the Asset Purchase Agreement dated as of _______, 2006, among GE Capital,
		the other sellers listed on Schedule 1 thereto and GFL.

	  

	 “Bank
		Accounts”
		has the meaning assigned to such term in Section 7.1(b) of
		Schedule 2.02(a) to the Servicing Agreement.

	  

	 “Broker”
		means an insurance broker engaged by Servicer in accordance with
		Section 1.3(b) of Schedule 2.02(a) to the Servicing
		Agreement.

	  

	 “Business
		Day”
		means a day on which U.S. dollar deposits may be traded on the London
		inter-bank market and commercial banks and foreign exchange markets are open in
		New York, New York and London, England.

	  

	 “Business
		Opportunities Agreement”
		means the Business Opportunities Agreement dated as of _________, 2006 between
		Genesis and the Servicer.

	  

	 “Calculation
		Date”
		means the fourth Business Day immediately preceding each Payment
		Date.

	  

	 “Cape
		Town Convention”
		means the Convention on International Interests in Mobile Equipment and its
		Protocol on Matters Specific to Aircraft Equipment, concluded in Cape Town on
		16 November 2001.

	  

	 “Changed
		Circumstance”
		means the occurrence and continuation of any material event, circumstance or
		condition that is reasonably likely to result in the current cash flow
		projections in any Year being materially less favorable than the forecast which
		is the most current at the time that the Approved Budget is finalized for that
		Year in accordance with Section 7.03 of the Servicing
		Agreement.

	  

	 “Closing”
		means the closing of the offering and sale of the equity securities by Genesis
		and the other transactions described in the Final Prospectus.

	  

	 “Closing
		Date”
		means _______, 2006.

	  

	 “Code”
		has the meaning assigned to such term in Section 9.07(c) of the Servicing
		Agreement.

	  

	 “Collection
		Account”
		has the meaning assigned to such term in the applicable Financing
		Agreements.

	  

	 “Competitor”
		means any of the following Persons:

	  

	  

	 
		
		  APPENDIX A-3
		

		
		  
		

		

		
 

		 

		
		  APPENDIX
			 A TO THE

		  SERVICING
			 AGREEMENT
 

		 

		(i) any
		  Person (other than GE Capital and its Affiliates) engaged in, or which has an
		  Affiliate engaged in, the business of manufacturing aircraft or aircraft
		  engines, which business had consolidated revenues attributable to such business
		  for such Person’s and/or its Affiliates’, as the case may be, most
		  recently completed fiscal year in excess of $200 million; or

		 

		(ii) any of
		  the following Persons (or any of their respective Affiliates) and their
		  respective successors and assigns:

		 

		(a) International
		  Lease Finance Corporation;

		 

		(b) Aviation
		  Capital Group;

		 

		(c) AWAS;

		 

		(d) ORIX;

		 

		(e) CIT
		  Group Inc.;

		 

		(f) Babcock
		  & Brown Limited;

		 

		(g) AerCap
		  B.V.; 

		 

		(h) RBS
		  Aviation Capital;

		 

		(i) Fortress
		  Investments/Aircastle Advisor LLC;

		 

		(j) Cerberus
		  Capital Management;

		 

		(k) Terra
		  Firma Capital Partners;

		 

		(l) Singapore
		  Aircraft Leasing Enterprise;

		 

		(m) Boeing
		  Capital;

		 

		(n) GATX
		  Air; and

		 

		(o) Pegasus
		  Aviation; or

		 

		(iii) any
		  other Person (or any Affiliate thereof) (other than GE and its Affiliates)
		  which engages in a business as an operating lessor of Aircraft Assets in
		  competition with any Person within the Genesis Group either (x) in succession
		  to any of the Persons specified in clause (ii) above or (y) which has
		  consolidated aircraft leasing-related revenues (excluding revenues from sales
		  of aircraft) attributable to such business for its most recently completed
		  fiscal year in excess of $200 million.

		 

		“Competitor
		  Control”
		  means, with respect to any Person, a Competitor’s (a) control or
		  beneficial ownership, directly or indirectly, of 10% or more of any class of
		  securities (other than promissory notes or loan certificates or pass-through
		  certificates in respect of promissory notes or loan certificates that have no
		  rights to vote on the governance of such entity), directly or indirectly, of
		  such Person, or (b) ability to elect or election of a director, member
		  trustee or similar Person of such Person.

		
		   

		  
			 
				APPENDIX A-4
			 

			 
				
			 

			 

			 
 

		  

		   
 

		
		  APPENDIX
			 A TO THE

		  SERVICING
			 AGREEMENT
 

		 

		“Compliance
		  Obligations”
		  has the meaning assigned to such term in Section 11.05 of the Servicing
		  Agreement.

		 

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

		 

		“control”
		  (including, with its correlative meanings, “controlled
		  by”
		  and “under
		  common control with”)
		  means possession, directly or indirectly, of power to direct or cause the
		  direction of management or policies (whether through ownership of securities or
		  partnership or other ownership interests, by contract or
		  otherwise).

		 

		“Delivery”
		  has the meaning assigned to such term in Section 1.1 of the Asset Purchase
		  Agreement.

		 

		“Deposits”
		  means the deposits required under a Lease.

		 

		“Disposition”
		  has the meaning assigned to such term in Section 9.04(b) of the Servicing
		  Agreement.

		 

		“Documentary
		  Conventions”
		  with respect to any agreement, instrument or other document that states it is
		  governed thereby, means that, except as otherwise expressly provided
		  therein:

		 

		(a) No
		  Partnership. The
		  parties thereto expressly recognize and acknowledge that such agreement,
		  instrument or other document is not intended to create a partnership, joint
		  venture or other similar arrangement between or among any of the parties
		  thereto or their respective Affiliates.

		 

		(b) Notices.
		  Subject to paragraph (d) below, all notices, consents, directions,
		  approvals, instructions, requests and other communications required or
		  permitted by such agreement, instrument or other document to be given to any
		  Person shall be in writing, and any such notice shall become effective five
		  Business Days after being deposited in the mails, certified or registered,
		  return receipt requested, with appropriate postage prepaid for first class mail
		  or, if delivered by hand or courier service or in the form of a facsimile, when
		  received (and, in the case of a facsimile, receipt of such facsimile is
		  electronically or otherwise confirmed to the sender), and shall be directed to
		  the address or facsimile number of such Person set forth in Appendix C to the
		  Servicing Agreement. From time to time any party to such agreement, instrument
		  or other document may designate a new address or number for purposes of notice
		  thereunder by notice to each of the other parties thereto.

		 

		(c) Governing
		  Law. SUCH
		  AGREEMENT, INSTRUMENT OR OTHER DOCUMENT SHALL IN ALL RESPECTS BE GOVERNED BY,
		  AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
		  YORK.

		 

		(d) Jurisdiction;
		  Court Proceedings; Waiver of Jury Trial. Any
		  suit, action or proceeding against any party to such agreement, instrument or
		  other document arising out of or relating to such agreement, instrument or
		  other document, any transaction contemplated thereby or any judgment entered by
		  any court in respect of any thereof may be brought in any New York State court
		  located in the County of New York or Federal court sitting in the Second
		  Circuit, and each such party hereby submits to the nonexclusive jurisdiction of
		  such courts for the purpose of any such suit, action or proceeding. To the
		  extent that service of process by mail is permitted by applicable law, each
		  party thereto irrevocably consents to the service of process in any such suit,
		  

		 

		 

		
		  
			 APPENDIX A-5
		  

		  
			 
		  

		  

		  
 

		

		 
 

	 
		APPENDIX
		  A TO THE

		
		  SERVICING
			 AGREEMENT
 

		 

		action
		  or proceeding in such courts by the mailing of such process by registered or
		  certified mail, postage prepaid, at its address for notices provided for above.
		  Each party to such agreement, instrument or other document irrevocably agrees
		  not to assert any objection which it may ever have to the laying of venue of
		  any such suit, action or proceeding in any New York State court located in the
		  County of New York or Federal court sitting in the Second Circuit, and any
		  claim that any such suit, action or proceeding brought in any such court has
		  been brought in an inconvenient forum. To the fullest extent permitted by
		  Applicable Law, each party to such agreement, instrument or other document
		  waives any right it may have to a trial by jury in respect of any litigation
		  directly or indirectly arising out of, under or in connection with such
		  agreement, instrument or other document. Genesis agrees, and it shall cause
		  each other Person within the Genesis Group, not to bring any action, suit or
		  proceeding against GE Capital, the Servicer or any of their respective
		  Affiliates or any of GE Capital’s, the Servicer’s or their respective
		  Affiliates’ Representatives arising out of, in connection with or related
		  to any such agreement, instrument or other document or any transaction
		  contemplated thereby except in a New York State court located in the County of
		  New York or Federal court sitting in the Second Circuit.

		 

		(e) Agent.
		  Genesis and each other Person within the Genesis Group hereby appoints
		  CT Corporation System (the “Agent”),
		  111 Eighth Avenue, New York, New York, U.S.A. 10011, as its nonexclusive agent
		  for service of process in connection with each Operative Agreement. The parties
		  may use any other legally available means of service of process. Genesis will
		  promptly notify the Servicer and GE Capital of any change in the address of the
		  Agent; provided,
		  however, that
		  Genesis will at all times maintain an agent located within New York State for
		  service of process in connection with each Operative Agreement.

		 

		The
		  Servicer hereby appoints GE Capital (the “Servicer’s
		  Agent”),
		  335 Madison Ave., 12th Floor, New York, N.Y. 10017, U.S.A., as its
		  nonexclusive agent for service of process in connection with each Operative
		  Agreement. The parties may use any other legally available means of service of
		  process. The Servicer will promptly notify Genesis of any change in the address
		  of the Servicer’s Agent; provided,
		  however, that
		  the Servicer will at all times maintain an agent located within New York State
		  for service of process in connection with each Operative
		  Agreement.

		 

		(f) Consequential
		  Damages. In no
		  event will any party to such agreement, instrument or other document be liable
		  to any other for lost profits, income tax consequences, lost savings or any
		  other consequential damages, even if such party has been advised of the
		  possibility of such damages, or for punitive damages, resulting from the breach
		  of any obligation under such agreement, instrument or other
		  document.

		 

		(g) Counterparts. Each
		  such agreement, instrument or other document may be executed by the parties
		  thereto in separate counterparts, each of which when so executed and delivered
		  shall be an original, but all such counterparts shall together constitute one
		  and the same agreement, instrument or other document. All signatures need not
		  be on the same counterpart.

		 

		(h) Entire
		  Agreement; Amendment and Waiver. Such
		  agreement, instrument or other document, together with the other Operative
		  Agreements, shall constitute the entire agreement of the parties thereto with
		  respect to the subject matter thereof and supersedes all prior written and oral
		  agreements and understandings with respect to such subject matter. Neither any
		  such agreement, instrument or other document nor any of the Appendix A to the
		  Servicing Agreement terms thereof may be terminated, amended, supplemented,
		  waived or modified, except by an instrument in writing signed by Genesis and
		  the Servicer. No failure or delay of any party to any such agreement,
		  instrument or other document, in exercising any power or right 

		 

		 

		
		  
			 APPENDIX A-6
		  

		  
			 
		  

		  

		  
 

		

		 
		  
		  APPENDIX
			 A TO THE

		  SERVICING
			 AGREEMENT
 

		 

		thereunder
		  shall operate as a waiver thereof, nor shall any single or partial exercise of
		  any such right or power, or any abandonment or discontinuance of steps to
		  enforce such a right or power, preclude any other or further exercise thereof
		  or the exercise of any other right or power.

		 

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

		 

		(j) Parties
		  in Interest; Limitation on Rights of Others. The
		  terms of such agreement, instrument or other document shall be binding upon,
		  and inure to the benefit of, the parties thereto and their permitted successors
		  and assigns and, to the extent applicable, their respective Affiliates and
		  Representatives. Except as expressly set forth in any such agreement,
		  instrument or other document with respect to Affiliates and Representatives of
		  the parties thereto, nothing in such agreement, instrument or other document,
		  whether express or implied, shall be construed to give any Person (including
		  any past, present or future employee of any Person within the Genesis Group)
		  other than the parties thereto and their permitted successors and assigns any
		  legal or equitable right, remedy or claim under or in respect of such
		  agreement, instrument or other document or any covenants, conditions or
		  provisions contained therein.

		 

		(k) Method
		  of Payment. Except
		  as otherwise agreed, all amounts required to be paid by any party to such
		  agreement, instrument or other document to any other party thereunder
		  (including in respect of any judgment or settlement entered in respect of such
		  agreement, instrument or other document) shall be paid in dollars, by wire
		  transfer, or other acceptable method of payment, of same day funds to a dollar
		  account located in the United States as such party may specify by notice to the
		  other party.

		 

		(l) Payment
		  on Business Days. If any
		  payment under such agreement, instrument or other document is required to be
		  made on a day other than a Business Day, the date of payment shall be extended
		  to the next Business Day.

		 

		(m) Past
		  Due Payments. Any
		  amount payable to any party or any of its Representatives under any such
		  agreement, instrument or other document shall be paid on the date therein
		  specified for payment of such amounts. To the extent that all or a portion of
		  such amount is not paid on such date, such amount (or the unpaid portion
		  thereof) shall bear interest at the Stipulated Interest Rate from such date
		  until and through the date that such amount has been paid in full.

		 

		(n) Severability. Any
		  provision of such agreement, instrument or other document that shall be
		  prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
		  be ineffective to the extent of such prohibition or unenforceability without
		  invalidating the remaining provisions thereof and any such prohibition or
		  unenforceability in any jurisdiction shall not invalidate or render
		  unenforceable such provision in any other jurisdiction. To the extent permitted
		  by Applicable Law, each of Genesis and the Servicer waives any provision of law
		  that renders any provision of any agreement, instrument or other document
		  prohibited or unenforceable in any respect.

		 

		“Dollar”
		  or “$”
		  means the lawful money of the United States of America.

		 

		“Due
		  Date”
		  has the meaning assigned to such term in Section 9.07(a) of the Servicing
		  Agreement.

		
		   

		  
			 
				APPENDIX A-7
			 

			 
				
			 

			 

			 
 

		  

		   
 

		
		  APPENDIX
			 A TO THE

		  SERVICING
			 AGREEMENT
 

		 

		“Effectiveness
		  Date”
		  has the meaning assigned to such term in Section 10.02(c)(ii) of the
		  Servicing Agreement.

		 

		“Engine”
		  means owned or leased-in aircraft engines or, with respect to any Original
		  Aircraft, any aircraft engine required to be delivered together with such
		  Original Aircraft pursuant to the terms of the Asset Purchase
		  Agreement.

		 

		“ERISA”
		  means the Employee Retirement Income Security Act of 1974, as
		  amended.

		 

		“EU”
		  means the European Union.

		 

		“Executive
		  Order”
		  means US Executive Order No. 13224 on Blocking Property and Prohibiting
		  Transaction with Persons who Commit, Threaten to Commit, or Support Terrorism,
		  which came into effect on September 23, 2001.

		 

		“Existing
		  Accounts”
		  has the meaning assigned to such term in Section 7.1(a) of
		  Schedule 2.02(a) to the Servicing Agreement.

		 

		“Expense
		  Account”
		  has the meaning assigned to such term in Section 3.01(a) of the
		  Indenture.

		 

		“Fee
		  Period”
		  has the meaning assigned to such term in Section 9.03(a)(i) of the
		  Servicing Agreement.

		 

		“Final
		  Prospectus”
		  has the meaning assigned to such term in Section 2.03(a)(ii) of the
		  Servicing Agreement.

		 

		“Financing
		  Agreement”
		  means any Credit Agreement, Indenture, Security Agreement or other agreement
		  providing for the financing of an Aircraft Asset that has been approved by the
		  Servicer for purposes of this Agreement.

		 

		“Former
		  Aircraft Asset”
		  has the meaning assigned to such term in Section 2.04(b) of the Servicing
		  Agreement.

		 

		“GE”
		  means General Electric Company, a New York corporation.

		 

		“GE
		  Capital”
		  means General Electric Capital Corporation, a Delaware
		  corporation.

		 

		“GECAS”
		  means GE Commercial Aviation Services Limited, a company incorporated under the
		  laws of Ireland.

		 

		“GE
		  Policy”
		  has the meaning assigned to such term in Section 2.04(a) of the Servicing
		  Agreement.

		 

		“Genesis”
		  means Genesis Lease Limited, a limited liability company incorporated under the
		  laws of Bermuda.

		 

		“Genesis
		  Group”
		  has the meaning assigned to such term in Section 2.01(a) of the Servicing
		  Agreement.

		
		   

		  
			 
				APPENDIX A-8
			 

			 
				
			 

			 

			 
 

		  

		   
 

		
		  APPENDIX
			 A TO THE

		  SERVICING
			 AGREEMENT
 

		 

		“Genesis
		  Group Guarantees”
		  means each Guarantee, in the form set forth as Appendix B to the Servicing
		  Agreement, issued by each Person within the Genesis Group (other than Genesis)
		  pursuant to Section 6.13 of the Servicing Agreement.

		 

		“Genesis
		  Group Liabilities”
		  means any obligations or liabilities of any Person within the Genesis Group
		  (whether accrued, absolute, contingent, unasserted, known or unknown or
		  otherwise).

		 

		“Genesis
		  Pro Forma Lease”
		  has the meaning assigned to such term in Section 3(b)(iii) of Schedule 2.02(a)
		  to the Servicing Agreement.

		 

		“Governmental
		  Authority”
		  means any court, administrative agency or commission or other governmental
		  agency or instrumentality (or any officer or representative thereof) domestic,
		  foreign or international, of competent jurisdiction including the
		  EU.

		 

		“Gross
		  Proceeds”
		  has the meaning assigned to such term in Section 9.04(b) of the Servicing
		  Agreement.

		 

		“GFL”
		  means Genesis Funding Limited, a Bermuda company.

		 

		“GFL
		  Servicing Agreement”
		  means the Servicing Agreement dated ________, 2006 among GFL, GECAS and the
		  “Policy Provider” named therein.

		 

		“Guarantee”
		  means any obligation, contingent or otherwise, of any Person directly or
		  indirectly guaranteeing any Indebtedness or other obligation of any other
		  Person and, without limiting the generality of the foregoing, any obligation,
		  direct or indirect, contingent or otherwise, of such Person (i) to
		  purchase or pay (or advance or supply funds for the purchase or payment of)
		  such Indebtedness or other obligation of such other Person or (ii) entered
		  into for purposes of assuring in any other manner the obligee of such
		  Indebtedness or other obligation of the payment thereof or to protect such
		  obligee against loss in respect thereof (in whole or in part); provided,
		  however, that
		  the term Guarantee shall not include (x) endorsements for collection or
		  deposit, in either case in the ordinary course of business, (y) any
		  guarantee by any Person within the Genesis Group of the obligations of another
		  Person within the Genesis Group in respect of such Person’s obligations in
		  connection with any Aircraft Assets, whether as lessor, seller or otherwise, or
		  (z) the delivery of a bond or similar instrument by or on behalf of any
		  Person within the Genesis Group in connection with the detention or
		  repossession of any Aircraft Assets or enforcement of a Lease or removal of an
		  encumbrance.

		 

		“Indebtedness”
		  means, with respect to any Person at any date of determination (without
		  duplication), (a) all indebtedness of such Person for borrowed money,
		  (b) all obligations of such Person evidenced by bonds, debentures, notes
		  or other similar instruments, (c) all obligations of such Person in
		  respect of letters of credit or other similar instruments (including
		  reimbursement obligations with respect thereto), (d) all the obligations
		  of such Person to pay the deferred and unpaid purchase price of property or
		  services, which purchase price is due more than six months after the date of
		  purchasing such property or service or taking delivery and title thereto or the
		  completion of such services, and payment deferrals arranged primarily as a
		  method of raising finance or financing the acquisition of such property or
		  service, (e) all obligations of such Person under a lease of (or other
		  agreement conveying the right to use) any property (whether real, personal or
		  mixed) that is required to be classified and accounted for as a capital lease
		  obligation under U.S. GAAP, (f) all Indebtedness of other Persons secured
		  by a lien on any asset of such Person, whether or not such Indebtedness is
		  assumed by such Person, and (g) all Indebtedness of other Persons
		  Guaranteed by such Person.

		
		   

		  
			 
				APPENDIX A-9
			 

			 
				
			 

			 

			 
 

		  

		   
APPENDIX
		  A TO THE

		
		  SERVICING
			 AGREEMENT
 

		 

		“Indemnified
		  Parties”
		  means the Servicer and its respective Affiliates and each of the
		  Servicer’s and its respective Affiliates’
		  Representatives.

		 

		“Independent
		  Representative”
		  has the meaning assigned to such term in Section 3.02(c) of the Servicing
		  Agreement.

		 

		“International
		  Interest”
		  has the meaning given such term in the Cape Town Convention.

		 

		“International
		  Registry”
		  has the meaning given such term in the Cape Town Convention.

		 

		[“Initial
		  Offer”
		  means __________.]

		 

		“Lease”
		  means any lease or other agreement or arrangement pursuant to which any Person
		  (other than a Person within the Genesis Group) has the right to possession and
		  use of any Aircraft Asset.

		 

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

		 

		“Lessee”
		  means the lessee (or equivalent Person) in respect of a Lease.

		 

		“Lessee
		  Contact”
		  has the meaning assigned to such term in Section 2.01(a) of the Servicing
		  Agreement.

		 

		“Lessee
		  Funded Account”
		  has the meaning assigned to such term in the applicable Financing
		  Agreements.

		 

		“Lien”
		  means, with respect to any asset, (a) any mortgage, deed of trust, lien,
		  pledge, encumbrance, charge International Interest, Prospective International
		  Interest or security interest in or on such asset, (b) the interest of a
		  vendor or a lessor under any conditional sale agreement, capital lease or title
		  retention agreement relating to such asset and (c) in the case of
		  securities, any purchase option, call or similar right of a third party with
		  respect to such securities.

		 

		“Losses”
		  means any and all liabilities (including liabilities arising out of the
		  doctrine of strict liability), obligations, losses, damages, penalties, Taxes,
		  actions, suits, judgments, costs, fees, expenses (including reasonable legal
		  fees, expenses and related charges and costs of investigation) and
		  disbursements, of whatsoever kind and nature; provided,
		  however, the
		  term “Losses” shall not include any Indemnified Party’s
		  management time or overhead expenses.

		 

		“Material
		  Adverse Effect”
		  means an event, condition, matter, change or effect that impacts or, insofar as
		  reasonably can be foreseen, in the future is likely to impact, in a material
		  adverse manner, (a) with respect to any Person other than the Servicer,
		  the condition (financial or otherwise), properties, assets, liabilities,
		  earnings, capitalization, shareholders’ equity, licenses or franchises,
		  businesses, operation or prospects of such Person or the ability of such Person
		  to perform fully any of its obligations under any of the Operative Agreements,
		  and (b) with respect to the Servicer, the Servicer’s liabilities,
		  obligations, rights or benefits under the Servicing Agreement or the
		  Servicer’s ability to perform fully any of the Services.

		 

		“Monthly
		  Base Fee”
		  has the meaning assigned to such term in Section 9.01(a) of the Servicing
		  Agreement.

		
		   

		  
			 
				APPENDIX A-10
			 

			 
				
			 

			 

			 
 

		  

		   
APPENDIX
		  A TO THE

		
		  SERVICING
			 AGREEMENT
 

		 

		“Monthly
		  Payment Period”
		  has the meaning assigned to such term in Section 7.3(a) of
		  Schedule 2.02(a) to the Servicing Agreement.

		 

		“MSA
		  Aircraft Assets”
		  and “MSA
		  Person”
		  have the meanings assigned to such terms in Section 2.01(c) of the
		  Servicing Agreement.

		 

		“Net
		  Proceeds”
		  has the meaning assigned to such term in Section 2.03(g) of the Servicing
		  Agreement.

		 

		“New
		  Accounts”
		  has the meaning assigned to such term in Section 7.1(b) of
		  Schedule 2.02(a) to the Servicing Agreement.

		 

		“Non-Curable
		  Termination Event”
		  has the meaning assigned to such term in Section 10.02(c)(ii) of the Servicing
		  Agreement.

		 

		“Nonterminating
		  Party”
		  has the meaning assigned to such term in Section 10.02(c)(i) of the
		  Servicing Agreement.

		 

		“Notice
		  of Termination”
		  means a Termination Notice.

		 

		“OFAC
		  Designated Person”
		  means a Person: (a) listed in the annex to, or otherwise subject to the
		  provisions of, the Executive Order; (b) named as a specially designated
		  national and blocked Person” on the most current list published by the
		  Office of Foreign Asset Control of the United States Department of the
		  Treasury; or (c) owned or controlled by, or acting for on behalf of, any
		  Person referred to in clause (a) or (b) above.

		 

		“Offering”
		  has the meaning assigned to such term in Section 2.03(a)(i) of the
		  Servicing Agreement 

		 

		“Officer’s
		  Certificate”
		  means, as to any Person, a certificate of the President, any Vice President or
		  Assistant Vice President, the Treasurer or any Assistant Treasurer, the
		  Secretary or any Assistant Secretary, or any Director.

		 

		“Operative
		  Agreements”
		  means the Servicing Agreement, the Genesis Group Guarantees and all other
		  agreements, instruments or other documents which are required by the terms of
		  any thereof to be delivered in connection with any of the foregoing
		  documents.

		 

		“Original
		  Aircraft”
		  means any “Aircraft” (as defined in the Asset Purchase Agreement);
		  provided,
		  however, that
		  Original Aircraft shall not include any “Aircraft” (x) which shall
		  have suffered an “Event of Loss” (as defined in the Asset Purchase
		  Agreement) or (y) with respect to which a payment has been made pursuant
		  to Section 4.2 or 5.3 of the Asset Purchase Agreement.

		 

		“Other
		  Assets”
		  has the meaning assigned to such term in Section 3.02(a) of the Servicing
		  Agreement.

		 

		“Overhead
		  Expenses”
		  has the meaning assigned to such term in Section 9.06(a) of the Servicing
		  Agreement.

		 

		“Partial
		  Termination”
		  has the meaning assigned to such term in Section 10.02(a)(ii) of the
		  Servicing Agreement.

		
		   

		  
			 
				APPENDIX A-11
			 

			 
				
			 

			 

			 
 

		  

		   
 

		
		  APPENDIX
			 A TO THE

		  SERVICING
			 AGREEMENT
 

		 

		“Payment
		  Date”
		  means the 15th day of each month, commencing on _____ __, 2006; provided,
		  however, that,
		  if any Payment Date would otherwise fall on a day that is not a Business Day,
		  the relevant Payment Date shall be the first following day which is a Business
		  Day.

		 

		“Person”
		  means any individual, firm, corporation, limited liability company,
		  partnership, trust, body of persons, joint venture, governmental authority or
		  other entity, and shall include any successor (by merger or otherwise) of such
		  entity.

		 

		“Precedent
		  Lease”
		  has the meaning assigned to such term in Section 3(b) of
		  Schedule 2.02(a) to the Servicing Agreement.

		 

		“Prime
		  Rate”
		  means the rate of interest per annum publicly announced from time to time by
		  Deutsche Bank Trust Company Americas as its prime rate in effect at its
		  principal office in New York City; each change in the “Prime Rate”
		  shall be effective on the date such change is announced.

		 

		“Prospective
		  International Interest”
		  has the meaning given to such term in the Cape Town Convention.

		 

		“Prospectus”
		  has the meaning assigned to such term in Section 2.03(a)(i) of the
		  Servicing Agreement.

		 

		“Rating
		  Agencies”
		  means each of Standard & Poor’s Ratings Group, a division of the
		  McGraw-Hill Companies, Inc. and Moody’s Investors Service, Inc. and any
		  successors to either of the foregoing.

		 

		“Ratings”
		  means the then current rating assigned by a Rating Agency in respect of the
		  Notes.

		 

		“Rent
		  Collected Fee”
		  has the meaning assigned to such term in Section 9.03(a)(ii) of the
		  Servicing Agreement.

		 

		“Rent
		  Fees”
		  has the meaning assigned to such term in Section 9.01 of the Servicing
		  Agreement.

		 

		“Rent
		  Payable Fee”
		  has the meaning assigned to such term in Section 9.03(a)(i) of the
		  Servicing Agreement.

		 

		“Rents”
		  means the basic rent payable pursuant to a Lease, and in the event that the
		  agreement or arrangement pursuant to which possession of any Aircraft Asset is
		  given is other than as a lease, amounts equivalent to any basic rent, and, in
		  the event that there is a negotiated or non-consensual termination of a Lease
		  prior to the scheduled expiry date of the term thereof or the exercise of a
		  termination right by the Lessee under a Lease, all amounts payable by the
		  Lessee in connection therewith other than amounts that are expressly
		  denominated as payable in connection with the condition of the Aircraft under
		  the Lease.

		 

		“Replacement
		  Servicer”
		  means a replacement servicer to perform some or all of the Services under the
		  Servicing Agreement formerly performed by the Servicer.

		 

		“Representatives”
		  with respect to any Person means the officers, directors, employees, advisors
		  and agents of such Person.

		 

		“Required
		  Expenses Amount”
		  has the meaning assigned to such term in the applicable Financing
		  Agreements.

		
		   

		  
			 
				APPENDIX A-12
			 

			 
				
			 

			 

			 
 

		  

		   
 

		
		  APPENDIX
			 A TO THE

		  SERVICING
			 AGREEMENT
 

		 

		“Restricted
		  Lessee Contact”
		  has the meaning assigned to such term in Section 2.01 of the Servicing
		  Agreement.

		 

		“Sales
		  Fee”
		  has the meaning assigned to such term in Section 9.01 of the Servicing
		  Agreement.

		 

		“Securitization
		  Servicing Agreement”
		  has the meaning assigned to such term in Section 2.01(c) of the Servicing
		  Agreement.

		 

		“Securitization
		  Vehicle”
		  means GFL or any similar bankruptcy remote special purpose vehicle which
		  directly or indirectly owns Aircraft Assets and finances such Aircraft Assets
		  with Indebtedness placed in the capital markets and rated by the Rating
		  Agencies (excluding, however, WHCO while the WHCO Servicing Agreement is in
		  full force and effect).

		 

		“Security
		  Trustee”
		  means the secured party (as agent, trustee or otherwise) under a Financing
		  Agreement approved by the Servicer for purposes of this Agreement.

		 

		“Servicer”
		  means GECAS.

		 

		“Servicer
		  Delegate”
		  has the meaning assigned to such term in Section 12.01 of the Servicing
		  Agreement.

		 

		“Servicer
		  Disclosure”
		  has the meaning assigned to such term in Section 2.03(a)(i) of the
		  Servicing Agreement.

		 

		“Servicer
		  Information”
		  has the meaning assigned to such term in Section 2.03(m) of the Servicing
		  Agreement.

		 

		“Services”
		  has the meaning assigned to such term in Section 2.02(a) of the Servicing
		  Agreement.

		 

		“Servicing
		  Agreement”
		  or “Agreement”
		  means the Servicing Agreement dated as of _________, 2006, between Genesis and
		  the Servicer.

		 

		“Servicing
		  Fees”
		  means the Monthly Base Fee, the Sales Fee and the Rent Fees and any other fees
		  payable to the Servicer under the Servicing Agreement.

		 

		“Shadow
		  Director/Related Company Claims”
		  has the meaning assigned to such term in Section 11.04 of the Servicing
		  Agreement.

		 

		“Significant
		  Subsidiary”
		  means any Person within the Genesis Group that has title to, or any other
		  indicia of ownership in, any Aircraft Assets.

		 

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

		 

		“Standard
		  of Liability”
		  has the meaning assigned to such term in Section 3.03 of the Servicing
		  Agreement.

		 

		“Stated
		  Services Obligation”
		  has the meaning assigned to such term in Section 7.3(a) of
		  Schedule 2.02(a) to the Servicing Agreement.

		
		   

		  
			 
				APPENDIX A-13
			 

			 
				
			 

			 

			 
 

		  

		   
 

		
		  APPENDIX
			 A TO THE

		  SERVICING
			 AGREEMENT
 

		 

		“Stipulated
		  Interest Rate”
		  means, for any period, a rate per annum equal to the Prime Rate in effect
		  during such period plus 2 percent per annum.

		 

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

		 

		“Tax”
		  or “Taxes”
		  means all fees (including documentation, license and registration fees), taxes,
		  assessments, levies, impositions, duties, withholdings and other charges of any
		  nature whatsoever (including taxes based upon or measured by gross receipts,
		  income, profits, sales, use or occupation, and value added, ad valorem,
		  transfer, franchise, withholding, payroll, social security, employment, excise,
		  documentary, stamp, corporation, corporation profits, advance corporation,
		  capital duty, capital gains, capital acquisitions, wealth, vehicle
		  registration, social insurance, and property taxes) asserted or imposed by any
		  Governmental Authority, together with all interest, fines, penalties and
		  additions imposed with respect to such amounts.

		 

		“Taxpayer”
		  means any Person within the Genesis Group or any predecessor of any Person
		  within the Genesis Group, or any successor to any Person within the Genesis
		  Group (but not including the Servicer or any of its Affiliates).

		 

		“Terminating
		  Party”
		  has the meaning assigned to such term in Section 10.02(c)(i) of the
		  Servicing Agreement.

		 

		“Termination
		  Notice”
		  has the meaning assigned to such term in Section 10.02(c)(i) of the
		  Servicing Agreement.

		 

		“Third
		  Party Claim”
		  means a claim by a third party arising out of a matter for which an Indemnified
		  Party is entitled to be indemnified pursuant to the indemnity provisions of the
		  Servicing Agreement.

		 

		“Transaction
		  Approval Requirements”
		  has the meaning assigned to such term in Section 7.04(c) of the Servicing
		  Agreement.

		 

		“U.S.
		  GAAP”
		  means generally accepted accounting principles in the United
		  States.

		 

		“Utilization
		  Rent”
		  means the utilization rent, supplemental rent, and other similar payments
		  (including payments analogous to or consisting of maintenance reserves) under
		  each of the Leases.

		 

		“WHCO”
		  means ___________________.

		 

		“WHCO
		  Servicing Agreement”
		  means the Servicing Agreement dated _________, 2006 between WHCO and
		  GECAS.

		 

		“Year”
		  means each fiscal year ending December 31.

		
		   

		  
			 
				APPENDIX A-14
			 

			 
				
			 

			 

			 
 

		  

		   
 

		
		  APPENDIX B
			 TO THE

		  SERVICING
			 AGREEMENT

		   
 

		
		  GUARANTEE
			 dated as of [insert date]

		   

		  made by
			 [insert name] (“Guarantor”) in favor of GE COMMERCIAL AVIATION
			 SERVICES LIMITED (the “Servicer”) and its Affiliates relating to the
			 Servicing Agreement dated as of _________ __, 2006 (the
			 “Agreement”), between the Servicer and
			 _________________(“Genesis”).

		   

		  WHEREAS
			 pursuant to the Agreement, the Servicer has agreed to provide Services to each
			 Person within the Genesis Group in accordance with and to the extent set forth
			 in the Agreement;

		   

		  WHEREAS
			 the Obligor is a party to the Agreement and is liable for any and all amounts
			 due and owing to the Servicer and any of its Affiliates under the Agreement;
			 and

		   

		  WHEREAS
			 each Person within the Genesis Group is a direct or indirect beneficiary of the
			 Services performed by the Servicer pursuant to the Agreement.

		   

		  NOW,
			 THEREFORE, in consideration of the premises and to induce the Servicer to enter
			 in the Agreement and to perform the Services thereunder, Guarantor hereby
			 agrees, for the benefit of the Servicer and its Affiliates, as
			 follows:

		   

		  1. Guarantor
			 unconditionally and irrevocably guarantees to the Servicer and its Affiliates
			 (a) the due and punctual payment of all amounts due to the Servicer and
			 its Affiliates from the Obligor under the Agreement, whether now existing or
			 hereafter incurred, and (b) the due and punctual performance of all other
			 obligations of the Obligor to the Servicer and its Affiliates under the
			 Agreement (all the foregoing being hereinafter collectively called the
			 “Obligations”) and any and all fees and expenses (including, without
			 limitation, reasonable attorneys’ fees and expenses) incurred by the
			 Servicer and its Affiliates in enforcing any rights under this Guarantee, all
			 without regard to any counterclaim, set-off, deduction or defense of any kind
			 which the Obligor or Guarantor may have or assert, and without abatement,
			 suspension, deferment or diminution on account of any event or condition
			 whatsoever. In case of failure of the Obligor punctually to pay any of the
			 amounts referred to in clause (a) above, Guarantor hereby agrees to cause
			 such amounts to be paid punctually when and as the same shall become due and
			 payable as if such payment were made by the Obligor. Guarantor further agrees
			 that this Guarantee constitutes a guarantee of payment when due and not of
			 collection.

		   

		  2. The
			 liability of the undersigned under this Guarantee shall, to the fullest extent
			 permitted by Applicable Law, be unconditional irrespective of (i) any lack
			 of enforceability against the Obligor of any Obligation, (ii) any change
			 of the time, manner or place of payment, or any other term, of any Obligation,
			 (iii) any exchange, release or nonperfection of any collateral securing
			 payment of any Obligation or any other guarantee in respect thereof,
			 (iv) any law, regulation or order of any jurisdiction affecting any term
			 of any Obligation or the Servicer’s or any of its Affiliates’ rights
			 with respect thereto and (v) any other circumstance which might vary the
			 risk of or otherwise constitute a defense available to, or a discharge of, the
			 Obligor, Guarantor or any surety. The Guarantor waives, to the fullest extent
			 permitted by Applicable Law, promptness, diligence and notices with respect to
			 any Obligation and this Guarantee and any requirement that the Servicer or any
			 of its Affiliates exhaust any right or take any action against the Obligor, any
			 collateral security or any other guarantor.

		   

		  3. In the
			 event that the Guarantor is required by any applicable law to make any
			 deduction or withholding for or on account of Taxes from any payment to be made
			 by it hereunder, then it shall (i) pay over to the government or taxing
			 authority imposing such Tax the full amount required to be deducted or withheld
			 (including the full amount required to be deducted or withheld from the
			 additional amounts required to be paid pursuant to clause (ii) below),
			 (ii) pay to the Servicer or its Affiliates, as the 

		  
			  

			 
				
				  APPENDIX B-15
				

				
				  
				

				

				
 

			 

			  
APPENDIX B
			 TO THE

		  
			 SERVICING
				AGREEMENT
 

		   

		  case may
			 be, together with such payment such additional amounts as may be necessary in
			 order that the net amount received by the Servicer or its Affiliates, as the
			 case may be, will be not less than the full amount of such payment which would
			 otherwise have been receivable had no such deduction or withholding been
			 required and (iii) forward to the Servicer as soon as possible such tax
			 receipts or other official documentation with respect to the payment of the
			 Taxes so deducted or withheld as may be issued from time to time by such
			 government or taxing authority.

		   

		  4. Guarantor
			 further agrees that this Guarantee shall continue to be effective or be
			 reinstated, as the case may be, if at any time payment, or any part thereof, of
			 any Obligation or interest thereon is rescinded or must otherwise be restored
			 by the Servicer upon the bankruptcy or reorganization of the Obligor, Guarantor
			 or otherwise.

		   

		  5. Upon
			 payment by Guarantor of any sums to the Servicer or its Affiliates under this
			 Guarantee, all rights of Guarantor against the Obligor arising as a result
			 thereof by way of right of subrogation or otherwise shall in all respects be
			 subordinate and junior in right of payment to the prior indefeasible payment in
			 full of all the obligations of the Obligor under the Agreement.

		   

		  6. The
			 Guarantor represents and warrants as of the date hereof to the Servicer and its
			 Affiliates that:

		   

		  (a) the
			 Guarantor is a [corporation or business trust duly organized and validly
			 existing and, if relevant, in good standing under the laws of the jurisdiction
			 in which it is legally organized], [national banking association duly organized
			 and validly existing in good standing under the laws of the United States] and
			 has full power, authority and legal right to execute and deliver, and to
			 perform its obligations under, this Guarantee;

		   

		  (b) the
			 Guarantor has taken all necessary corporate and legal action to authorize the
			 guarantee hereunder on the terms and conditions of this Guarantee and to
			 authorize its execution, delivery and performance;

		   

		  (c) this
			 Guarantee has been duly executed and delivered by a duly authorized officer or
			 Representative of the Guarantor, and constitutes the legal, valid and binding
			 obligation of the Guarantor, enforceable against the Guarantor in accordance
			 with its terms;

		   

		  (d) the
			 execution, delivery and performance of this Guarantee will not constitute a
			 default under or violate any provision of any law or regulation, or any
			 judgment or order of any court, arbitrator or governmental authority, in each
			 case applicable to the Guarantor, constituent documents of the Guarantor, or
			 any agreement to which the Guarantor is a party; and

		   

		  (e) no
			 consent of any other Person, and no consent, license, permit, approval or
			 authorization of, exemption by, notice or report to, or registration, filing or
			 declaration with, any Governmental Authority, is required in connection with
			 the execution delivery, performance, validity or enforceability with respect to
			 the Guarantor of this Guarantee.

		   

		  7. This
			 Guarantee shall remain in full force and effect and be binding in accordance
			 with its terms upon the Guarantor and shall inure to the benefit of the
			 Servicer and its Affiliates until all the Obligations and the obligations of
			 the Guarantor under this Guarantee shall have been satisfied by indefeasible
			 payment in full.

		   

		  8. The
			 obligations of Guarantor under this Guarantee may not be assigned or delegated
			 without the prior written consent of the Servicer.

		  
			  

			 
				
				  APPENDIX B-16
				

				
				  
				

				

				
 

			 

			  
APPENDIX B
			 TO THE

		  
			 SERVICING
				AGREEMENT
 

		   

		  [9. The
			 liability of the Guarantor under this Guarantee is limited to the maximum
			 amount that will result in the obligations of the Guarantor not constituting a
			 fraudulent conveyance or fraudulent transfer under Applicable
			 Law.]

		   

		  [10.
			 This
			 Guarantee shall be governed by the Documentary Conventions, and all capitalized
			 terms used but not defined herein have the meanings assigned to such terms in
			 Appendix A to the Agreement. The construction and usage set forth in such
			 Appendix A are incorporated herein by reference.]

		   

		  [11. All of
			 the statements, representations, covenants and agreements made by Guarantor
			 contained in this Guarantee are made and intended only for the purpose of
			 binding the Trust Estate (as such expression is defined in the Trust Agreement)
			 and establishing the existence of rights and remedies which can be exercised
			 and enforced against the Trust Estate. Therefore, anything contained in this
			 Guarantee to the contrary notwithstanding, no recourse shall be had with
			 respect to this Guarantee against Guarantor in its individual capacity or
			 against any institution or person which becomes a successor trustee or
			 co-trustee or any officer, director, trustee, servant or direct or indirect
			 parent or controlling person or persons of any of them; provided, however, that
			 this Section 11 shall not be construed to prohibit any action or
			 proceeding against any party hereto for its own willful misconduct or grossly
			 negligent conduct for which it would otherwise be liable; and provided,
			 further, that nothing contained in this Section 11 shall be construed to
			 limit the exercise and enforcement in accordance with the terms of this
			 Guarantee or such other agreements of rights and remedies against the Trust
			 Estate.]

		   

		  IN
			 WITNESS WHEREOF, Guarantor has executed this Guarantee as of the date first
			 above written.

		   
 

		
		  	
				   
 	 	 
	 	
				  [Insert
					 Name of Guarantor]
 
	 
 	 
 	 
 
	 	By:  	 
	 	
				  Name:
Title:

				  
	 	 

 

		
		   

		  
			 
				APPENDIX B-17
			 

			 
				
			 

			 

			 
 

		  

		   
APPENDIX C
		  TO THE

		
		  
			 SERVICING
				AGREEMENT
 

		   

		  Notices

		   

		  GE
			 Commercial Aviation Services Limited

		   

		  Aviation
			 House

		  Shannon,
			 County Clare

		  Ireland

		  Attention:
			 Company Secretary

		   

		  Fax:
			 (353) 61-360888

		  Telephone:
			 (353) 61-706500

		   

		  with a
			 copy to:

		   

		  GE
			 Commercial Aviation Services LLC

		  201 High
			 Ridge Road (Ground Floor)

		  Stamford,
			 Connecticut 06927

		  Attention:
			 General Counsel

		   

		  Fax:
			 (203) 921-0029

		  Telephone:
			 (203) 961-2985

		  
			 
				 

				
				  

				  

				 
 

			 
				
 

			 
				

				

			 
				 

				
				  
					 APPENDIX C

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