Document:

Exhibit 4.1

 

	
Number
    	
141,960 Preferred Units
    

 

THE UNITS EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO THE RESTRICTIONS ON ASSIGNMENT AND TRANSFER SET FORTH IN THE OPERATING AGREEMENT OF STEWART & STEVENSON LLC.  IN ADDITION, THE UNITS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAW AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNTIL REGISTERED OR UNTIL THE BOARD HAS RECEIVED AN OPINION OF LEGAL COUNSEL, OR OTHER ASSURANCES SATISFACTORY TO THE BOARD, THAT A UNIT MAY LEGALLY BE SOLD OR OTHERWISE TRANSFERRED WITHOUT REGISTRATION.

 

STEWART & STEVENSON LLC

 

(A LIMITED LIABILITY COMPANY ORGANIZED UNDER THE LAWS OF THE STATE OF DELAWARE)

 

PREFERRED UNIT CERTIFICATE

 

This Certifies that  EC Investments International S.a.r.l. is the registered owner of Adjustable Rate Non-Cumulative Perpetual Preferred Units representing a capital contribution of $141,960,000.00 and having the rights and preferences described herein.

 

In Witness Whereof,  the Stewart & Stevenson LLC has caused this Certificate to be executed by its duly authorized officers this 27th day of March, 2013.

 

And its Limited Liability Company seal to be hereunto affixed.

 

 

	
 
    	
 
    	
 
    
	
Chief Financial Officer
    	
 
    	
Chairman
    

 

 

Part 1.           Designation and Number of Units. The Preferred Units represented hereby are designated as the “Adjustable Rate Non-Cumulative Perpetual Preferred Units” (the “Designated Preferred Units”). The authorized number of Designated Preferred Units shall be 141,960.

 

Part 2.           General Matters. Each of the Designated Preferred Units shall be identical in all respects to every other of the Designated Preferred Units. The Designated Preferred Units shall be perpetual.  The Designated Preferred Units shall rank senior to Common Units with respect to the payment of distributions and the distribution of assets in the event of any dissolution, liquidation or winding up of the Company.

 

Part 3.           Definitions. The following terms are used herein as defined below:

 

(a)           “Applicable Distribution Rate” means the greater of (i) the Prime Rate plus 250 basis points (2 -1⁄2 %) and (ii) 6% per annum.

 

(b)           “Board Resolutions” means the resolutions of the Board of Directors of the Company creating the Designated Preferred Units, as amended from time to time.

 

(c)           “Business Combination” means a merger, consolidation, statutory exchange or similar transaction that requires the approval of the Company’s unitholders.

 

(d)           “Business Day” means any day except Saturday, Sunday or any day on which banking institutions in the State of New York generally are authorized or required by law or other governmental actions to close.

 

(e)           “Common Units” means the common units of the Company, currently consisting of Common Units, Common A Units and Common B Units.

 

(f)            “Distribution Payment Date” means August 1 and February 1 of each year, beginning August 1, 2013.

 

(g)           “Distribution Period” has the meaning set forth in Part 4(a).

 

(h)           “Distribution Record Date” has the meaning set forth in Part 4(a).

 

(i)            “EBITDA” means, for any period, net income plus the sum of interest, income tax, and depreciation and amortization expense.

 

(j)            “Liquidation Amount” means $1,000 per Designated Preferred Unit.

 

(k)           “Liquidation Preference” has the meaning set forth in Part 5(a).

 

(l)            “Operating Agreement” means the Company’s Restated Operating Agreement, as amended.

 

(m)          “Original Issue Date” means the date on which Designated Preferred Units are first issued.

 

(n)           “Preferred Units” means any and all series of preferred units of the Company, including the Designated Preferred Units.

 

(o)           “Prime Rate” means the “Prime Rate” as published in The Wall Street Journal, or if not so published, as announced by J. P. Morgan Chase Bank N.A., on the relevant Distribution Record Date.

 

(p)           “Units” means the Common Units and the Designated Preferred Units.

 

Part 4.           Distributions.

 

(a)           Rate. Holders of Designated Preferred Units shall receive, on each of the Designated Preferred Units but only out of the Company’s EBITDA, adjusted for other non-cash items, for the period from and after February 1, 2012, subject to the approval of a majority of the Membership Interests entitled to vote (as such term is used in the Operating Agreement), non-cumulative cash distributions with respect to each Distribution Period (as defined below) at a rate per annum equal to the Applicable Distribution Rate on the Liquidation Amount of the Designated Preferred Units. Such distributions shall begin to accrue from the Original Issue Date and shall be payable semi-annually in arrears on each Distribution Payment Date, commencing with the first such Distribution Payment Date to occur at least 20 calendar days after the Original Issue Date. In the event that any Distribution Payment Date would otherwise fall on a day that is not a Business Day, the distribution due on that date will be postponed to the next day that is a Business Day and no additional distributions will accrue as a result of any such postponement. The period from and including any Distribution Payment Date to, but excluding, the next Distribution Payment Date is a “Distribution Period”, provided that the initial Distribution Period shall be the period from and including the Original Issue Date to, but excluding, the next Distribution Payment Date.

 

Distributions that are payable on Designated Preferred Units in respect of any Distribution Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of distributions payable on Designated Preferred Units on any date prior to the end of a Distribution Period, and for the initial Distribution Period, shall be computed on the basis of a 360-day year consisting of twelve 30-day months, and actual days elapsed over a 30-day month.

 

Distributions that are payable on Designated Preferred Units on any Distribution Payment Date will be payable to holders of record of Designated Preferred Units as they appear on the register of the Company on the applicable record date, which shall be the 15th calendar day immediately preceding such Distribution Payment Date or such other record date fixed therefor that is not more than 60 nor less than 10 days prior to such Distribution Payment Date (each, a “Distribution Record Date”). Any such day that is a Distribution Record Date shall be a Distribution Record Date whether or not such day is a Business Day.

 

Holders of Designated Preferred Units shall not be entitled to any distributions, whether payable in cash, securities or other property, other than distributions (if any) payable on Designated Preferred Units as specified in this Part 4 (subject to the other provisions of the Board Resolutions).

 

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(b)           Priority of Distributions. So long as any of the Designated Preferred Units remains outstanding, no distribution shall be declared or paid on the Common Units (other than distributions payable solely in Common Units), and no Common Units shall be, directly or indirectly, purchased, redeemed or otherwise acquired for consideration by the Company or any of its subsidiaries unless all distributions for the latest completed Distribution Period on all Designated Preferred Units have been or are contemporaneously paid in full (or a sum sufficient for the payment thereof has been set aside for the benefit of the holders of the Designated Preferred Units on the applicable record date). The foregoing limitation shall not apply to redemptions, purchases or other acquisitions of Common Units in connection with the administration of any employment contract or arrangement or any employee benefit plan in the ordinary course of business.

 

When distributions are not paid (or a sum sufficient for payment thereof set aside for the benefit of the holders thereof on the applicable record date) on any Distribution Payment Date in full on Designated Preferred Units, all distributions on Designated Preferred Units payable on such Distribution Payment Date shall be pro rata.

 

Subject to the foregoing and not otherwise (except that the foregoing shall not be applicable in the case of distributions in accordance with past practices in respect of Common Units for taxes imposed on the holders of Common Units as a result of the inclusion of the Company’s taxable income in the tax returns of the holders of Common Units), such distributions (payable in cash, securities or other property) as may be approved by a majority of the Membership Interests entitled to vote (in accordance with the Operating Agreement) may be paid in respect of any securities, including Common Units, from time to time out of any funds legally available for such payment, and holders of Designated Preferred Units shall not be entitled to participate in any such distributions.

 

Part 5.           Liquidation Rights.

 

(a)           Voluntary or Involuntary Liquidation. In the event of any liquidation, dissolution or winding up of the affairs of the Company, whether voluntary or involuntary, holders of Designated Preferred Units shall be entitled to receive for each of the Designated Preferred Units, out of the assets of the Company or proceeds thereof (whether capital or surplus) available for distribution to unitholders of the Company, subject to the rights of any creditors of the Company, before any distribution of such assets or proceeds is made to or set aside for the holders of Common Units, payment in full in an amount equal to the sum of (i) the Liquidation Amount and (ii) the amount of any distributions in respect of the then-current Distribution Period to the date of payment (such amounts collectively, the “Liquidation Preference”).

 

(b)           Partial Payment. If in any distribution described in Part 5(a) above the assets of the Company or proceeds thereof are not sufficient to pay in full the amounts payable with respect to all outstanding Designated Preferred Units, holders of Designated Preferred Units shall share ratably in any such distribution.

 

(c)           Residual Distributions. If the Liquidation Preference has been paid in full to all holders of Designated Preferred Units, the holders of other units of the Company shall be entitled to receive all remaining assets of the Company (or proceeds thereof) according to their respective rights and preferences.

 

(d)           Merger, Consolidation or Sale of Assets; Change in Control. For purposes of this Part 5, the merger or consolidation of the Company with any other corporation or other entity in which the holders of Common Units receive cash, securities or other property, or the sale, lease or exchange (for cash, securities or other property) of all or substantially all of the assets of the Company, or any transaction after which the current holder of the Company’s Common B Units shall not continue to hold Common Units possessing a majority of the total combined voting power of all Common Units, shall constitute a liquidation, dissolution or winding up of the Company.

 

Part 6.           Redemption.

 

(a)           No Sinking Fund. The Designated Preferred Units will not be subject to any mandatory redemption, sinking fund or other similar provisions. Holders of Designated Preferred Units will have no right to require redemption or repurchase of any units of Designated Preferred Units.

 

(b)           Optional Redemption.  The Company, at its option, may redeem, in whole at any time or in part from time to time, the Designated Preferred Units at the time outstanding, upon notice given as provided in Part 6(c) below, at a redemption price equal to the Liquidation Amount thereof, together (except as otherwise provided hereinbelow) with an amount equal to any distributions that have been declared but not paid prior to the redemption date (but with no amount in respect of any distributions that have not been declared prior to such date).  The redemption price for any Designated Preferred Units shall be payable on the redemption date to the holder(s) of such Designated Preferred Units against surrender of the certificate(s) evidencing such Designated Preferred Units to the Company or its agent.  Any declared but unpaid distributions payable on a redemption date that occurs subsequent to the Distribution Record Date for a Distribution Period shall not be paid to the holder entitled to receive the redemption price on the redemption date, but rather shall be paid to the holder of record of the redeemed shares on such Distribution Record Date relating to the Distribution Payment Date as provided in Part 4 above.

 

(c)           Notice of Redemption.  Notice of every redemption of Designated Preferred Units shall be given by first class mail, postage prepaid, addressed to the holders of record of the Designated Preferred Units to be redeemed at their respective last addresses appearing on the books of the Company.  Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption.  Any notice mailed as provided in this Part 6(c) shall be conclusively presumed to have been duly given, whether or not the holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any holder of Designated Preferred Units designated for redemption shall not affect the validity of the proceedings for the redemption of any other Designated Preferred Units.  Each such notice given to a holder shall state: (1) the redemption date; (2) the number of Designated Preferred Units to be redeemed and, if less than all the Designated Preferred Units held by such holder are to be

 

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redeemed, the number of such Designated Preferred Units to be redeemed from such holder; (3) the redemption price; and (4) the place or places where certificates for such Designated Preferred Units are to be surrendered for payment of the redemption price.

 

(d)           Partial Redemption.  In case of any redemption of only part of the Designated Preferred Units at the time outstanding, the Designated Preferred Units to be redeemed shall be selected either pro rata or in such other manner as the Company may determine to be fair and equitable.  Subject to the provisions hereof, the Company shall have full power and authority to prescribe the terms and conditions upon which Designated Preferred Units shall be redeemed from time to time.  If fewer than all the Designated Preferred Units represented by any certificate are redeemed, a new certificate shall be issued representing the unredeemed shares without charge to the holder thereof.

 

(e)           Effectiveness of Redemption.  If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been set aside by the Company, separate and apart from its other funds, in trust for the pro rata benefit of the holders of the Designated Preferred Units called for redemption, so as to be and continue to be available therefor, then, notwithstanding that any certificate for any share so called for redemption has not been surrendered for cancellation, on and after the redemption date distributions shall cease to accrue on all Designated Preferred Units so called for redemption, all Designated Preferred Units so called for redemption shall no longer be deemed outstanding and all rights with respect to such Designated Preferred Units shall forthwith on such redemption date cease and terminate, except only the right of the holders thereof to receive the amount payable on such redemption, without interest.  Any funds unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released to the Company, after which time the holders of the Designated Preferred Units so called for redemption shall look only to the Company for payment of the redemption price of such Designated Preferred Units.

 

Part 7.           Conversion. Holders of Designated Preferred Units shall have no right to exchange or convert such units into any other securities.

 

Part 8.           Voting Rights.

 

(a)           General. The holders of Designated Preferred Units shall not have any voting rights except as set forth below.

 

(b)           Amendment of Designated Preferred Units. So long as any Designated Preferred Units are outstanding, the vote or consent of the holders of at least a majority of the Designated Preferred Units at the time outstanding, voting as a separate class, given in person or by proxy, either in writing without a meeting or by vote at any meeting called for the purpose, shall be necessary for effecting or validating any amendment, alteration or repeal of any provision of the Board Resolutions for the Designated Preferred Units or the Operating Agreement so as to adversely affect the rights, preferences, privileges or voting powers of the Designated Preferred Units.

 

(c)           Certain Voting Matters. Whether the vote or consent of the holders of a plurality, majority or other portion of the Designated Preferred Units has been cast or given on any matter on which the holders of Designated Preferred Units are entitled to vote shall be determined by the Company by reference to the Liquidation Amount of the units voted or covered by the consent as if the Company were liquidated on the record date for such vote or consent, if any, or, in the absence of a record date, on the date for such vote or consent.

 

Part 9.           Record Holders.  To the fullest extent permitted by applicable law, the Company may deem and treat the record holder of any Designated Preferred Units as the true and lawful owner thereof for all purposes, and the Company shall not be affected by any notice to the contrary.

 

Part 10.        Notices.  All notices or communications in respect of Designated Preferred Units shall be sufficiently given if given in writing and delivered in person or by first class mail, postage prepaid, or if given in such other manner as may be permitted in the Board Resolutions, in the Operating Agreement or by applicable law.

 

Part 11.        No Preemptive Rights. None of the Designated Preferred Units shall have any rights of preemption whatsoever as to any securities of the Company, or any warrants, rights or options issued or granted with respect thereto, regardless of how such securities, or such warrants, rights or options, may be designated, issued or granted.

 

Part 12.        Replacement Certificates. The Company shall replace any mutilated certificate at the holder’s expense upon surrender of that certificate to the Company. The Company shall replace certificates that become destroyed, stolen or lost at the holder’s expense upon delivery to the Company of reasonably satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be reasonably required by the Company.

 

Part 13.        Transfers. The Designated Preferred Units shall be transferrable in accordance with and subject to the provisions of Section 7.1 of the Operating Agreement.

 

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Part 14.        Other Rights. The Designated Preferred Units shall not have any rights, preferences, privileges or voting powers or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Operating Agreement or as provided by applicable law.

 

5Exhibit 10.1

 

FIRST AMENDMENT TO THREE-YEAR REVOLVING CREDIT AGREEMENT

 

This FIRST AMENDMENT TO THREE-YEAR REVOLVING CREDIT AGREEMENT (this “Amendment”) is entered into as of April 1, 2013, by and among International Lease Finance Corporation, a California corporation (the “Company”), the Banks party hereto (such Banks, the “Consenting Banks”) and Citibank, N.A., as administrative agent under the Credit Agreement, as hereinafter defined (herein, in such capacity, together with its successors and permitted assigns in such capacity, the “Agent” or “Administrative Agent”).  Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them in the Credit Agreement, as hereinafter defined.

 

RECITALS

 

WHEREAS, the Company, the Banks and the Administrative Agent have entered into that certain Three-Year Revolving Credit Agreement, dated as of October 9, 2012 (as amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”);

 

WHEREAS, the Company’s 100% direct owner, AIG Capital Corporation, a Delaware corporation (“AIG Capital”), and its direct parent, American International Group, Inc. (“AIG”) have agreed to sell up to 90% of the common stock of the Company to Jumbo Acquisition Limited, a Cayman Islands exempted company with limited liability (“Purchaser”), pursuant to that certain Share Purchase Agreement by and among AIG, AIG Capital and Purchaser dated as of December 9, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement,” and the acquisition of at least a majority of the common stock of the Company by Purchaser or permitted assignee thereof pursuant to the Purchase Agreement, the “Acquisition”);

 

WHEREAS, the Company has requested that the Administrative Agent and the Banks amend certain provisions of the Credit Agreement to become effective upon the consummation of the Acquisition; and

 

WHEREAS, the Administrative Agent and the Consenting Banks have agreed to provide such amendments on the terms and subject to the conditions set forth herein.

 

NOW THEREFORE, in consideration of the mutual execution hereof and other good and valuable consideration, the parties hereto agree as follows:

 

SECTION 1.         Amendments to Credit Agreement. Subject to the satisfaction of the conditions precedent set forth in Section 3 hereof, the Credit Agreement is hereby amended as follows:

 

(a)           The definition of “Indebtedness” contained in Section 1.2 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

 

““Indebtedness” of any Person means and includes, without duplication, all obligations of such Person which in accordance with generally accepted accounting principles in

 

 

the United States of America shall be classified upon a balance sheet of such Person as liabilities of such Person, and in any event shall include all:

 

(a)           obligations of such Person for borrowed money or which have been incurred in connection with the acquisition of property or assets,

 

(b)           obligations secured by any Lien or other charge upon property or assets owned by such Person, even though such Person has not assumed or become liable for the payment of such obligations,

 

(c)           obligations created or arising under any conditional sale, or other title retention agreement with respect to property acquired by such Person, notwithstanding the fact that the rights and remedies of the seller, lender or lessor under such agreement in the event of default are limited to repossession or sale of property,

 

(d)           Capitalized Rentals of such Person under any Capitalized Lease,

 

(e)           obligations evidenced by bonds, debentures, notes or other similar instruments, and

 

(f)            Guaranties by such Person of Indebtedness of any other Person, to the extent required pursuant to the definition thereof;

 

provided, however, that Indebtedness shall in no event include any security deposits, deferred overhaul rental or other customer deposits held by such Person.”

 

(b)           Section 8.10 of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

 

“Section 8.10.  Consolidated Indebtedness to Shareholder’s Equity.  Not permit the ratio of Consolidated Indebtedness to Shareholder’s Equity to exceed (i) 500% at any time during calendar year 2013, (ii) 450% at any time during calendar year 2014, and (iii) 400% at any time thereafter (in each case, such ratio to be calculated in a manner consistent with the calculations set forth in Schedule 1 to Exhibit C).”

 

(c)           The first sentence of Section 12.3(a) of the Credit Agreement is hereby amended and restated to read in its entirety as follows:

 

“Subject to Section 12.3(b), where the character or amount of any asset or liability (including Indebtedness and Consolidated Indebtedness) or item of income or expense is required to be determined, or any consolidation or other accounting computation is required to be made, for the purpose of this Agreement, such determination or calculation shall, at any time and to the extent applicable and except as otherwise specified in this Agreement, be made in accordance with generally accepted accounting principles in the United States of America as in effect from time to time, provided, however, that all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be  made, without taking into account (a) any election under Accounting Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards

 

 

159) (or any other accounting standard having a similar result or effect) to value any Indebtedness or Consolidated Indebtedness of the Borrower or any Subsidiary at “fair value”, as defined therein, (b) any adjustments made under the acquisition method of accounting under Accounting Standards Codification 805 (or any other accounting standard having a similar result or effect) to value any Indebtedness or Consolidated Indebtedness of the Borrower or any Subsidiary at “fair value”, as defined therein or (c) the impact of Accounting Standards Codification 820 (or any other accounting standard having a similar result or effect) with respect to the value of any Indebtedness or Consolidated Indebtedness of the Borrower or any Subsidiary at “fair value”, as defined therein).”

 

(d)           A new Section 12.3(d) is added to Section 12 of the Credit Agreement as follows:

 

“(d)         Each reference to “generally accepted accounting principles” or “generally accepted accounting principles in the United States of America” in this Agreement shall be deemed to refer to such generally accepted accounting principles as amended and supplemented by and construed in accordance with the provisions of this Section 12.3.”

 

(e)           Schedule 1 to Exhibit C of the Credit Agreement is hereby amended and restated in its entirety as set forth in Schedule 1 attached to this Amendment.

 

SECTION 2.         Representations and Warranties of the Company.  The Company represents and warrants as of the date hereof that:

 

(a)           The execution and delivery by the Company of this Amendment and the consummation of the transactions contemplated hereby and the performance by the Company of its obligations under this Amendment (a) are within the corporate powers of the Company, (b) have been duly authorized by all necessary corporate action on the part of the Company, (c) have received all necessary approvals, authorizations, consents, registrations, notices, exemptions and licenses (if any shall be required) from Governmental Authorities and other Persons, except for any such approvals, authorizations, consents, registrations, notices, exemptions or licenses non-receipt of which could not reasonably be expected to have a Material Adverse Effect, (d) do not and will not contravene or conflict with any provision of (i) law, (ii) any judgment, decree or order to which the Company or any Subsidiary is a party or by which the Company or any Subsidiary is bound, (iii) the charter, by-laws or other organizational documents of the Company or any Subsidiary or (iv) any provision of any agreement or instrument binding on the Company or any Subsidiary, or any agreement or instrument of which the Company is aware affecting the properties of the Company or any Subsidiary, except with respect to (i), (ii) and (iv) above, for any such contravention or conflict which could not reasonably be expected to have a Material Adverse Effect and (e) do not and will not result in or require the creation or imposition of any Lien on any of the Company’s or its Subsidiaries’ properties;

 

(b)           Each of the representations and warranties contained in Section 7 of the Credit Agreement is true and correct in all material respects on and as of the date hereof, with the same effect as though made on the date hereof, except to the extent such representations and

 

 

warranties expressly related to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date; and

 

(c)           No Event of Default or Unmatured Event of Default has occurred and is continuing or will result from the transactions contemplated by this Amendment.

 

SECTION 3.         Conditions Precedent to Effectiveness.  This Amendment shall become effective (such effective time, the “Effective Date”) upon:

 

(a)           execution and delivery of this Amendment by the Company, Consenting Banks constituting the Required Banks, and the Administrative Agent;

 

(b)           the consummation of the Acquisition;

 

(c)           receipt by the Administrative Agent, for the ratable benefit of each Consenting Bank, of an amendment fee in an amount equal to 0.25% of such Consenting Bank’s Commitment; and

 

(d)           the representations and warranties contained in Section 2 hereof shall be true and correct as of the Effective Date.

 

SECTION 4.         Reference to and Effect Upon the Credit Agreement.

 

(a)         All terms, conditions, covenants, representations and warranties contained in the Credit Agreement and other Loan Documents (other than those amended hereby) are ratified and affirmed in all respects and shall remain in full force and effect.

 

(b)         Except as expressly set forth herein, the execution, delivery and effectiveness of this Amendment shall not directly or indirectly (i) amend, modify or operate as a waiver of any provision of the Credit Agreement or any other Loan Documents or any right, power or remedy of the Administrative Agent or any Bank, or (ii) constitute a course of dealing or other basis for altering any obligations under the Credit Agreement or any other contract or instrument.  Except as expressly set forth herein, each of the Administrative Agent and each Bank reserves all of its rights, powers, and remedies under the Credit Agreement, the other Loan Documents and applicable law.

 

(c)         From and after the Effective Date, the term “Loan Documents” in the Credit Agreement and the other Loan Documents shall include, without limitation, this Amendment.

 

SECTION 5.         Governing Law.  THIS AMENDMENT SHALL BE A CONTRACT MADE UNDER, GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK.  THE COMPANY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF SITTING IN NEW YORK COUNTY, IN ANY ACTION OR PROCEEDING

 

 

ARISING OUT OF OR RELATING TO THIS AMENDMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.  NOTHING IN THIS AMENDMENT SHALL AFFECT ANY RIGHT TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AMENDMENT AGAINST THE COMPANY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.  All obligations of the Company and the rights of the Agent, the Banks and any other holders of the Committed Loans expressed herein shall be in addition to and not in limitation of those provided by applicable law.  Whenever possible each provision of this Amendment shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Amendment shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Amendment.

 

SECTION 6.         Waiver of Jury Trial.  THE COMPANY, THE AGENT AND EACH BANK HEREBY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AMENDMENT OR ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR ARISING FROM ANY BANKING RELATIONSHIP EXISTING IN CONNECTION WITH THIS AMENDMENT, AND AGREE THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

 

SECTION 7.         Captions.  Section captions used in this Amendment are for convenience only and shall not affect the construction of this Amendment.

 

SECTION 8.         Counterparts; Effectiveness.  This Amendment may be executed in any number of counterparts and by the different parties on separate counterparts and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Amendment.  Delivery of a counterpart via facsimile or electronic mail, including by email with a “.pdf” copy hereof attached, shall constitute delivery of an original counterpart.  When counterparts of this Amendment executed by each party shall have been lodged with the Agent (or, in the case of any Bank as to which an executed counterpart shall not have been so lodged, the Agent shall have received facsimile, electronic mail or other written confirmation of execution of a counterpart hereof by such Bank), this Amendment shall become effective as of the Effective Date and the Agent shall so inform all of the parties.

 

[signature pages follow]

 

 

IN WITNESS WHEREOF, the parties hereto hereupon set their hands as of the date first written above.

 

 

	
 
    	
 
    	
BORROWER:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
INTERNATIONAL LEASE FINANCE CORPORATION
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By: 
    	
/s/ Pamela S. Hendry
    
	
 
    	
 
    	
Name: 
    	
Pamela S. Hendry
    
	
 
    	
 
    	
Title:
    	
Senior Vice President, Treasurer & Assistant Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By: 
    	
/s/ Frederick S. Cromer
    
	
 
    	
 
    	
Name: 
    	
Frederick S. Cromer
    
	
 
    	
 
    	
Title:
    	
President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
ADMINSTRATIVE AGENT:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
CITIBANK, N.A.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By: 
    	
/s/ Maureen P. Maroney
    
	
 
    	
 
    	
Name: 
    	
Maureen P. Maroney
    
	
 
    	
 
    	
Title:
    	
Vice President
    

 

 

	
 
    	
CONSENTING BANKS:
    
	
 
    	
 
    	
 
    
	
 
    	
BANK OF AMERICA, N.A.
    
	
 
    	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Christopher Choi
    
	
 
    	
Name: 
    	
Christopher Choi
    
	
 
    	
Title:
    	
Director
    

 

 

	
 
    	
 
    	
CONSENTING BANKS:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Barclays Bank PLC,
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Patrick Kerner
    
	
 
    	
 
    	
Name:
    	
Patrick Kerner
    
	
 
    	
 
    	
Title:
    	
Assistant Vice President
    

 

 

	
 
    	
 
    	
CONSENTING BANKS:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
CITIBANK, N.A.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Maureen P. Maroney
    
	
 
    	
 
    	
Name:
    	
Maureen P. Maroney
    
	
 
    	
 
    	
Title:
    	
Vice President
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
[OTHER CONSENTING BANKS]
    

 

 

	
 
    	
 
    	
CONSENTING BANKS:
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Credit Suisse AG, Cayman Islands Branch, as   Lender
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Doreen Barr
    
	
 
    	
 
    	
Name:
    	
Doreen Barr
    
	
 
    	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Sanja Gazahi
    
	
 
    	
 
    	
Name:
    	
Sanja Gazahi
    
	
 
    	
 
    	
Title:
    	
Associate
    

 

 

	
 
    	
CONSENTING   BANKS:
    
	
 
    	
 
    
	
 
    	
DEUTSCHE BANK AG NEW YORK BRANCH
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Virginia Consenza
    
	
 
    	
Name:
    	
Virginia   Cosenza
    
	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Ming K. Chu
    
	
 
    	
Name:
    	
Ming   K. Chu
    
	
 
    	
Title:
    	
Vice   President
    

 

 

	
 
    	
CONSENTING   BANKS:
    
	
 
    	
 
    
	
 
    	
GOLDMAN SACHS BANK USA
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Lauren Havens
    
	
 
    	
Name:
    	
Lauren   Havens
    
	
 
    	
Title:
    	
Authorized   Signatory
    

 

 

	
 
    	
CONSENTING   BANKS:
    
	
 
    	
 
    
	
 
    	
JPMORGAN CHASE BANK, N.A.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   MATTHEW H. MASSIE
    
	
 
    	
Name:
    	
MATTHEW   H. MASSIE
    
	
 
    	
Title:
    	
MANAGING   DIRECTOR
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
[OTHER   CONSENTING BANKS]
    

 

 

	
 
    	
MORGAN STANLEY SENIOR FUNDING, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Chris Whelan
    
	
 
    	
Name:
    	
Chris   Whelan
    
	
 
    	
Title:
    	
Vice   President
    

 

 

	
 
    	
CONSENTING   BANKS:
    
	
 
    	
 
    
	
 
    	
ROYAL BANK OF CANADA,
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Scott Umbs
    
	
 
    	
Name:
    	
Scott   Umbs
    
	
 
    	
Title:
    	
Authorized   Signatory
    

 

 

	
 
    	
CONSENTING   BANKS:
    
	
 
    	
 
    
	
 
    	
UBS LOAN FINANCE LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Lana Gifas
    
	
 
    	
Name:
    	
Lana   Gifas
    
	
 
    	
Title:
    	
Director
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joselin Fernandes
    
	
 
    	
Name:
    	
Joselin   Fernandes
    
	
 
    	
Title:
    	
Associate   Director
    

 

 

	
 
    	
 Schedule 1
    
	
 
    	
 
    
	
 
    	
For the Quarter/Year ended
    

 

Schedule 1 to Exhibit C

 

CONSOLIDATED INDEBTEDNESS TO SHAREHOLDER’S EQUITY

(required by 8.1.3(b) and 8.10)

 

	
 
    	
 
    	
As of the Date Hereof
   (Dollars in thousands)
    	
 
    
	
Consolidated Indebtedness
    	
 
    	
 
    	
 
    
	
Indebtedness
    	
 
    	
$
    	
[                    
    	
]
    
	
Less:
    	
 
    	
 
    	
 
    
	
The amount of current and deferred income taxes   and rentals received in advance of the Company and its Subsidiaries
    	
 
    	
[                    
    	
]
    
	
Less (to the extent included in Indebtedness):
    	
 
    	
 
    	
 
    
	
Aggregate amount outstanding of Hybrid Capital   Securities multiplied by the Hybrid Capital Securities Percentage
    	
 
    	
[                    
    	
]
    
	
Adjustments in relation to Indebtedness   denominated in any currency other than Dollars and any related hedged   derivative liability
    	
 
    	
[                    
    	
]
    
	
Net obligations of any Person under any swap   contracts that are not yet due and payable
    	
 
    	
[                    
    	
]
    
	
Trade payables outstanding in the ordinary course   of business, but not over due by more than 90 days
    	
 
    	
[                    
    	
]
    
	
Consolidated Indebtedness (A)
    	
 
    	
[                    
    	
]
    
	
Shareholder’s Equity (B)
    	
 
    	
[                    
    	
]
    
	
Ratio of Consolidated Indebtedness to   Shareholder’s Equity ((A) divided by (B))*
    	
 
    	
[      
    	
]%**
    
					

 

*                                         As calculated pursuant to Section 8.10 and the definitions of Consolidated Indebtedness and Shareholder’s Equity set forth in Section 1.2.

 

**                                  For compliance, not permitted to exceed (i) 500% at any time during calendar year 2013, (ii) 450% at any time during calendar year 2014 and (iii) 400% at any time thereafter.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}]]