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Aircraft Lease Agreement
Aircraft Lease Agreement (261K)
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AIRCRAFT LEASE AGREEMENT
THIS AIRCRAFT LEASE AGREEMENT, dated as of April 16, 1999
(this "Lease"), between C.I.T. LEASING CORPORATION, a Delaware corporation, and
its successors and assigns ("Lessor"), and Frontier Airlines, Inc., a Colorado
corporation ("Lessee").
W I T N E S S E T H :
WHEREAS, Lessor owns one (1) Boeing 737-300 Aircraft more
particularly described on Exhibit A hereto; and
WHEREAS, Lessee desires to lease from Lessor and Lessor is
willing to lease to Lessee the Aircraft upon the terms and conditions set forth
in this Lease;
NOW, THEREFORE, in consideration of the mutual covenants
herein set forth, Lessor and Lessee hereby agree as follows:
ARTICLE 1
DEFINITIONS
Unless the context requires otherwise, the following terms
shall have the following meanings for all purposes of this Lease and such
meanings shall be equally applicable to both the singular and the plural forms
of the terms defined:
"Aeronautics Authority" shall mean, as the context requires,
the United States Department of Transportation, the FAA and/or the Administrator
of the United States Federal Aviation Administration, or any person,
governmental department, bureau, commission or agency succeeding to the
functions of any of the foregoing.
"Aircraft" shall mean the Airframe together with the Engines,
the Landing Gear, and, where applicable, shall also include the Aircraft
Documents and all Capital Improvements or parts which may be made to, installed
on or incorporated into the Aircraft, including, but not limited to, those
required pursuant to any Airworthiness Directive.
"Aircraft Documents" shall mean the items identified in
Appendix I B. to the Lease Supplement and delivered to Lessee on the Delivery
Date and all such other items which may be acquired or prepared by Lessee
relating to its use, operation and maintenance of the Aircraft during the term
of this Lease, including the Aircraft Records, all of which shall be maintained
in the English language.
"Aircraft Records" shall mean all historical maintenance
records and other records delivered with the Aircraft for maintenance
accomplished prior to the Delivery Date and current maintenance records and
other records for work accomplished subsequent to the Delivery Date including,
but not limited to, documents, manuals (revised up to and including the most
current revisions issued by the Manufacturer), data, overhaul records, log
books, original Aircraft and Engine delivery documents, Life Limited Part
traceability to "zero time since new", FAA Form 8130-3 or other FAA approved
serviceable parts tags, FAA forms, teardown reports for Time Controlled Parts
which have been overhauled or replaced during the Term, modification records,
inspection records (including NDT documentation such as x-ray and eddy current),
documentation of AD compliance, time logs showing Aircraft and Engine Flight
Hours and Cycles on any given date during the Term, and all other documentation
pertaining to the Aircraft, Engines and Parts.
"Airframe" shall mean the Boeing 737-300 aircraft (except for
the Engines) more specifically described on Exhibit A hereto and the Lease
Supplement, together with all Landing Gear, the APU, and any and all Parts
relating thereto.
"Airworthiness Directive" or "AD" shall mean any Airworthiness
Directive issued by the FAA or any Manufacturer's mandatory service bulletin and
in each case applicable to aircraft, engines or parts of the same type as the
Aircraft, the Engines or the Parts.
"APU" shall mean the auxiliary power unit installed in the
Airframe.
"Basic Rent" shall mean the rent for the Aircraft payable
throughout the Term pursuant to Section 3.1 hereof and specified on Exhibit H
hereto.
"Business Day" shall mean any day other than a Saturday,
Sunday or day on which commercial banking institutions in New York, New York and
Denver, Colorado are authorized by law to be closed.
"Capital Improvement" shall mean any permanent alteration,
modification, addition, accession, replacement or other type of improvement
which is made to the Airframe, Engines, or any Part thereof, including, but not
limited to, the addition of any Parts or avionics, the performance of
Airworthiness Directives and upgrading of Engines and aircraft flight operation
or safety technology where such improvements increase the value or operating
life of the Aircraft, Engines, or any Part thereof, and for which Lessor is
eligible to take depreciation or cost recovery deductions based on the cost of
such improvements.
"Capital Improvement AD" shall have the meaning given such
term in Section 9.3(b) hereof.
"Capital Improvement Cost Sharing Formula" shall have the
meaning given such term in Section 9.3(b) hereof.
"Checks" shall mean A-Checks, B-Checks, C-Checks and D-Checks,
or their equivalent, and all structural inspections and corrosion inspections,
which are required to be performed on the Aircraft in connection with the
Maintenance Program for the Aircraft.
"Claims" shall have the meaning given such term in Section
13.1 hereof.
"Cycle" shall mean one take-off and landing for the Aircraft.
""D" Check Airframe Reserve" shall have the meaning given such
term in Exhibit G hereto.
"Default" shall mean any event or condition which, with the
lapse of time or the giving of notice or both, would constitute an Event of
Default.
"Delivery Date" shall mean the date on which Lessee accepts
the Aircraft under the terms of this Lease, which date shall be set forth in the
Lease Supplement, or such other date as may be agreed by Lessor and Lessee.
Subject to the satisfaction of the conditions set forth in Section 2.3 hereof,
the Delivery Date for the Aircraft is presently estimated to be on or about May
10, 1999.
"Dollars" or "$" shall mean the lawful currency of the United
States of America.
112748
|
 Chase Manhattan
As referenced in this Aircraft Lease Agreement:
Chase Manhattan Bank, – Rent, Maintenance
Reserves and the Security Deposit shall be made by Lessee to Lessor by wire
transfer of immediately available funds to The Chase Manhattan Bank, N.A., 270
Park Avenue, New York, New York 10017, for The CIT Group, Account No.
116-003855, ABA No. 021-000-
_____________
dt 101528
;
Frontier
As referenced in this Aircraft Lease Agreement:
FRONTIER AIRLINES, – 7
{DESCRIPTION}AIRCRAFT LEASE AGREEMENT
AIRCRAFT LEASE AGREEMENT
Dated as of April 16, 1999
BETWEEN
C.I.T. LEASING CORPORATION
as Lessor
AND
FRONTIER AIRLINES, INC.
as Lessee
Concerning:
One Boeing 737-300 Aircraft
With
Two CFM56-3B2 Engines
FAA Registration Number N312FL
Manufacturer's Serial Number
_____________
Frontier Airlines, – as of April 16, 1999
(this "Lease"), between C.I.T. LEASING CORPORATION, a Delaware corporation, and
its successors and assigns ("Lessor"), and Frontier Airlines, Inc., a Colorado
corporation ("Lessee").
W I T N E S S E T H :
WHEREAS, Lessor owns one (1) Boeing 737-
_____________
Frontier Airlines, – when deposited with an overnight courier service, or, if
deposited in the United States mail, when received, addressed as follows:
If to Lessee: Frontier Airlines, Inc.
12015 East 46th Avenue, Suite 200
Denver, Colorado 80239-3116
Attn: Director, Aircraft Management
Telecopy No. (303) 371-7007
With a
_____________
FRONTIER AIRLINES, – duly executed by their authorized officers as of the date first
above written.
C.I.T. LEASING CORPORATION,
Lessor
By:______________________________
Title:___________________________
FRONTIER AIRLINES, INC.,
Lessee
By:______________________________
Title:
{PAGE}
EXHIBIT A
to
AIRCRAFT LEASE AGREEMENT
DESCRIPTION OF AIRCRAFT AND ENGINES
1. One Boeing 737-3L9
_____________
FRONTIER AIRLINES, – OF LEASE SUPPLEMENT
THIS LEASE SUPPLEMENT dated _________ __, 1999 (this "Lease
Supplement"), between C.I.T. LEASING CORPORATION, as Lessor ("Lessor"), and
FRONTIER AIRLINES, INC., as Lessee ("Lessee").
W I T N E S S E T H :
WHEREAS, Lessor and Lessee have heretofore entered into
_____________
dt 92016
;
| C.I.T. Leasing Corp.
|
| Preview
Full Doc
| 1999 |
Aircraft Lease Agreement
Aircraft Lease Agreement (331K)
Doc #112749: Click preview link for longer preview.
AIRCRAFT LEASE AGREEMENT
between
Indigo Aviation AB (publ)
as Lessor
and
Frontier Airlines, Inc
as Lessee
Dated as of 2nd of June 1999
Aircraft Make and Model: One Boeing 737-3S1
Aircraft Manufacturer's Serial Number: 24856
Aircraft Registration Mark: N372TA
(to be changed to N311FL)
Engines Make and Model: CFM56-3C1
Engines Serial Numbers: 724667 and 725630
To the extent, if any, that this Agreement constitutes chattel paper under the
Uniform Commercial Code in any jurisdiction, no security interest in this
Agreement may be created through the transfer and possession of any counterpart
other than the original counterpart of this Agreement, so identified by the
signature of Lender on the receipt set forth on the signature page of such
original counterpart.
Items marked with "*" have been omitted pursuant to a request for confidential
treatment.
{PAGE}
TABLE OF CONTENTS
1. DEFINITIONS................................................................2
1.1 Definitions............................................................2
1.2 Construction..........................................................11
2. REPRESENTATIONS AND WARRANTIES............................................14
2.1 Lessee's Representations and Warranties...............................14
2.2 Lessor's Representations and Warranties...............................17
2.3 Survival of Representations and Warranties............................18
3. CONDITIONS PRECEDENT......................................................19
3.1 Lessor's Conditions Precedent.........................................19
3.2 Waiver................................................................20
3.3 Lessee's Conditions Precedent.........................................20
3.4 Waiver................................................................21
4. DELIVERY CONDITION AND INSPECTION OF AIRCRAFT.............................22
4.1 Lessee Selection of Aircraft..........................................22
4.2 Condition at Delivery.................................................22
4.3 Lessee Inspection and Acceptance Flight...............................22
4.4 Delivery of Aircraft to Lessee........................................22
4.5 Lessee's Failure to take Delivery.....................................22
5. LEASE TERM................................................................24
5.1 Lease Term............................................................24
5.2 Expiry Date...........................................................24
5.3 Survival of Certain Lessee Obligations................................25
5.4 Risk .25
6. DELIVERY..................................................................26
6.1 Location and Time of Delivery.........................................26
6.2 Delay or Failure in Delivery..........................................26
7. RENT......................................................................27
7.1 Basic Rent Period.....................................................27
7.2 Time of Payment of Basic Rent.........................................27
7.3 Amount of Basic Rent..................................................27
7.4 Maintenance Reserves..................................................27
7.5 Supplemental Rent for Excess Cycles...................................27
8. SECURITY DEPOSIT..........................................................28
8.1 Security Deposit......................................................28
8.2 Letter of Credit......................................................28
8.3 Lessor's Rights.......................................................28
9. MAINTENANCE RESERVES......................................................30
9.1 Amount................................................................30
9.2 Payments..............................................................30
9.3 Adjustment............................................................30
9.4 Release of Maintenance Reserves.......................................30
9.5 Costs in Excess of Maintenance Reserves...............................32
9.6 Reimbursement after Expiry Date.......................................32
10. PAYMENTS.................................................................33
10.1 Account for Lessee Payments..........................................33
10.2 Default Interest.....................................................33
10.3 Absolute Obligations.................................................33
10.4 Application of Payments to Lessor....................................34
10.5 Currency Indemnity...................................................34
10.6 Set-off..............................................................35
10.7 Time for Payments....................................................35
11. LESSOR'S COVENANTS.......................................................36
11.1 Quiet Enjoyment......................................................36
11.2 Lessor Obligations Following Expiry Date.............................36
12. LESSEE'S COVENANTS.......................................................37
12.1 Duration.............................................................37
12.2 Information..........................................................37
12.3 Lessor Visits........................................................38
12.4 Periodic Estoppel Certificates.......................................39
12.5 Airport and Navigation Charges.......................................39
12.6 Operation of Aircraft................................................40
12.7 Areas of Operation...................................................40
12.8 Non-Prejudicial Action...............................................40
12.9 Non-Representation of Lessor.........................................41
12.10 Inspection..........................................................41
12.11 Registration........................................................41
12.12 Name Plates.........................................................42
12.13 Geneva Convention...................................................42
12.14 Merger and Shareholding.............................................43
12.15 Ownership...........................................................43
12.16 Maintenance of Principal Business Place.............................43
12.17 Maintenance of Flight Records.......................................44
13. POSSESSION...............................................................45
13.1 No Relinquishment of Possession......................................45
13.2 Copy of Sublease.....................................................48
13.3 Lessee Primarily Liable..............................................48
13.4 Recognition of Rights................................................48
14. SECURITY INTERESTS.......................................................49
14.1 Title................................................................49
14.2 No Security Interests................................................49
14.3 Base of Aircraft.....................................................49
14.4 Notice to Lessor.....................................................49
14.5 Procure Release......................................................49
15. MAINTENANCE AND REPAIR...................................................50
15.1 General Obligations..................................................50
15.2 Specific Obligations.................................................51
16. REPLACEMENT OF PARTS.....................................................53
16.1 Replacement of Parts.................................................53
16.2 Title to Replacement Parts...........................................53
16.3 Pooling of Parts.....................................................54
16.4 Alterations..........................................................54
16.5 Removal of Parts.....................................................55
16.6 Substitution of Engine...............................................55
16.7 Temporary Removal of Parts...........................................56
16.8 Parts Incapable of Transfer..........................................57
17. MANUFACTURER'S WARRANTIES................................................58
17.1 Authorization........................................................58
17.2 Proceeds.............................................................58
17.3 Agreements with Manufacturers........................................59
17.4 No Operation Contrary to Warranties..................................59
18. DISCLAIMERS..............................................................60
18.1 General..............................................................60
18.2 As Is, Where Is......................................................60
18.3 Waiver of Warranty of Description....................................61
18.4 Lessee Acknowledgement...............................................61
18.5 Lessee Waiver........................................................61
18.6 Lessee Examination of Aircraft.......................................61
18.7 No Lessor Liability for Losses.......................................62
18.8 Exclusion............................................................62
18.9 Waiver...............................................................62
18.10 No Waiver...........................................................63
18.11 Confirmation........................................................63
19. INDEMNITIES..............................................................64
19.1 General Indemnity....................................................64
19.2 Exception to General Indemnity.......................................64
19.3 Time of Payment......................................................65
19.4 Survival of General Indemnity........................................65
19.5 Notice to Lessee.....................................................65
20. TAXATION.................................................................66
20.1 Gross-up.............................................................66
20.2 Tax Indemnity........................................................66
20.3 Value Added Taxes....................................................67
20.4 Taxation of Indemnity Payments.......................................68
20.5 Benefit of Indemnities...............................................68
20.6 Lessor Indemnification...............................................68
20.7 Survival of Tax Indemnities..........................................68
20.8 Mitigation and Co-operation..........................................68
20.9 Furnishing Forms.....................................................69
21. INSURANCE................................................................70
21.1 Insurances...........................................................70
21.2 Reinsurance..........................................................70
21.3 Requirements.........................................................70
21.4 Insurance Covenants..................................................71
21.5 Renewal of Insurances................................................72
21.6 Failure to Insure....................................................73
21.7 Continuation of Insurances...........................................73
21.8 Application of Insurance Proceeds....................................73
21.9 Pursuit of Claims....................................................74
22. TOTAL LOSS AND REQUISITION...............................................75
22.1 Total Loss Prior to Delivery.........................................75
22.2 Total Loss After Delivery............................................75
22.3 Total Loss of Engines................................................76
22.4 Requisition..........................................................76
23. REDELIVERY...............................................................78
23.1 Redelivery of Aircraft...............................................78
23.2 Final Inspection.....................................................79
23.3 Discrepancies........................................................79
23.4 Non-compliance.......................................................79
23.5 Acknowledgement......................................................80
23.6 Storage etc..........................................................80
24. EVENTS OF DEFAULT........................................................81
24.1 Notice...............................................................81
24.2 Events...............................................................81
24.3 Lessor's Rights......................................................84
24.4 Default Payments.....................................................85
24.5 Cumulative Rights....................................................86
25. ASSIGNMENT AND TRANSFER..................................................87
25.1 By Lessee............................................................87
25.2 By Lessor............................................................87
25.3 Assignment to Lender.................................................87
25.4 Lessee Co-operation..................................................87
25.5 Lessor Includes Lessor's Assignee and Lender.........................88
26. MISCELLANEOUS PROVISIONS.................................................89
26.1 Rights Cumulative, Waivers...........................................89
26.2 Delegation...........................................................89
26.3 Expenses.............................................................89
26.4 Time of Essence......................................................90
26.5 Entire Agreement.....................................................90
26.6 Further Assurances...................................................90
26.7 Language.............................................................90
26.8 Variation............................................................90
26.9 Invalidity of any Provision..........................................90
26.10 Survival............................................................91
26.11 Reimbursement.......................................................91
26.12 Press Releases......................................................91
26.13 Power of Attorney...................................................91
26.14 Usury Laws..........................................................91
26.15 Confidentiality.....................................................92
26.16 Counterparts........................................................92
26.17 Bankruptcy..........................................................92
27. NOTICES..................................................................94
28. GOVERNING LAW AND JURISDICTION...........................................95
28.1 New York Law.........................................................95
28.2 Non-exclusive Jurisdiction in New York...............................95
28.3 Service of Process Agent.............................................95
28.4 Waiver...............................................................95
SCHEDULES
Schedule 1 Aircraft Specification 97
Annexure 1Aircraft Documents 100
Schedule 2 Certain Business Terms 103
Schedule 3 Insurance Requirements 106
Schedule 4 Delivery Conditions 112
Schedule 5 Acceptance Certificate 115
Schedule 6 Officer's Certificate 118
Schedule 7 Letter of Authority 120
Schedule 8 Power of Attorney 121
Schedule 9 Opinion of Lessee Counsel 123
Schedule 10 Monthly Aircraft Utilisation and Status Report 128
Schedule 11 Letter of Quiet Enjoyment 131
Schedule 12 Return Conditions 132
Schedule 13 Return Acceptance Certificate 135
Annexure 1Aircraft Documents 138
Annexure 2Discrepancies 141
Schedule 14 Lease Supplement 142
{PAGE}
THIS AGREEMENT is made as of 2nd of June 1999.
BETWEEN:
(1) INDIGO AVIATION AB (PUBL) a Swedish limited liability company
whose address and principal place of business is at Sodra
Forstadsgatan 4, S-211 43 Malmo, Sweden, ("Lessor"); and
(2) FRONTIER AIRLINES, INC. a Colorado corporation whose address and
principal place of business is at 12015 E. 46th Avenue, Denver,
Colorado, United States of America ("Lessee").
WHEREAS
Owner Trustee holds title to the Aircraft for the benefit of Lessor;
Owner Trustee, as headlessor, leases the Aircraft to Lessor under the terms of
the Headlease Agreement;
In consideration of and subject to the mutual covenants, terms and conditions
contained in this Agreement, Lessor hereby agrees to lease to Lessee and Lessee
hereby agrees to lease from Lessor the Aircraft for the Lease Term and the
parties further agrees as follows:
112749
|
Chase Manhattan
As referenced in this Aircraft Lease Agreement:
Chase Manhattan
Bank – Rate means, for the relevant period, 3% percent above the rate of
interest at the start of that relevant period publicly quoted by Chase Manhattan
Bank N.A as its prime rate;
Delivery means delivery of the Aircraft by Lessor to Lessee pursuant to Clause 6
Delivery Date means
_____________
dt 101529
;
Frontier
As referenced in this Aircraft Lease Agreement:
Frontier Airlines, –
Exhibit-10
{SEQUENCE}8
{DESCRIPTION}AIRCRAFT LEASE AGREEMENT
AIRCRAFT LEASE AGREEMENT
between
Indigo Aviation AB (publ)
as Lessor
and
Frontier Airlines, Inc
as Lessee
Dated as of 2nd of June 1999
Aircraft Make and Model: One Boeing 737-3S1
Aircraft Manufacturer's Serial
_____________
FRONTIER AIRLINES, – limited liability company
whose address and principal place of business is at Sodra
Forstadsgatan 4, S-211 43 Malmo, Sweden, ("Lessor"); and
(2) FRONTIER AIRLINES, INC. a Colorado corporation whose address and
principal place of business is at 12015 E. 46th Avenue, Denver,
Colorado, United States of
_____________
FRONTIER AIRLINES, – follows:
Lessor: INDIGO AVIATION AB (PUBL)
Address: Sodra Forstadsgatan 4, SE-211 43 Malmo, Sweden
Attention: Legal Department
Facsimile: +46 40 302350
Lessee: FRONTIER AIRLINES, INC.
Address: 12015 e. 46th Avenue, Denver Colorado,
United States of America
Attention: General Counsel
Facsimile: (303) 371 9669
28. Governing law
_____________
FRONTIER AIRLINES, – the beginning of this Agreement.
SIGNED on behalf of INDIGO AVIATION AB (PUBL)
By: ___________________________
Name: ___________________________
Title: ___________________________
SIGNED on behalf of FRONTIER AIRLINES, INC.
By: ___________________________
Name: ___________________________
Title: ___________________________
Receipt of the "original" counterpart of this Agreement is hereby acknowledged.
{PAGE}
SCHEDULE 1
AIRCRAFT
_____________
FRONTIER
AIRLINES, – Annexure 1 to the Acceptance
Certificate.
{PAGE}
SCHEDULE 5
ACCEPTANCE CERTIFICATE
This Acceptance Certificate is delivered, on the date set out below by FRONTIER
AIRLINES, INC. (Lessee), to INDIGO AVIATION AB (PUBL)(Lessor), pursuant to the
Aircraft Lease Agreement dated 2nd of June 1999 between Lessor and
_____________
dt 92017
;
| Indigo Aviation AB
|
| Preview
Full Doc
| 2002 |
Aircraft Lease Agreement
Aircraft Lease Agreement (257K)
Doc #117555: Click preview link for longer preview.
================================================================================
DATED AS OF
JUNE 25, 1999
BETWEEN
ICX CORPORATION
AS
LESSOR
AND
CHAUTAUQUA AIRLINES, INC.
AS
LESSEE
================================================================================
------------
Certain portions of this exhibit have been omitted pursuant to a request for
confidential treatment under Rule 406 of the Securities Act of 1933. The
omitted materials have been filed separately with the Securities and Exchange
Commission.
{Page}
TABLE OF CONTENTS
PAGE
SECTION 1. Definitions.......................................................1
SECTION 2. Agreement to Lease; Term, Rent, Security Deposit..................6
2.1 Agreement to Lease.................................................6
2.2 Term of the Lease..................................................7
2.3 Rent...............................................................7
2.4 Supplemental Rent..................................................7
2.5 Payments in General................................................7
2.6 Maintenance Reserves/Security Deposit...ERROR! BOOKMARK NOT DEFINED.
SECTION 3. Lessor's Representations, Warranties, and Agreements.............13
3.1 Due Organization..................................................13
3.2 Due Authorization.................................................13
3.3 Enforceability..........................ERROR! BOOKMARK NOT DEFINED.
3.4 No Violations.....................................................13
3.5 Disclaimer........................................................13
SECTION 4. Lessee's Representations, Warranties, and Agreements.............15
4.1 Due Organization..................................................15
4.2 Due Authorization; Enforceability; No Violation...................15
4.3 Litigation........................................................16
4.4 No Defaults.......................................................17
4.5 Merger or Consolidation of Lessee.......ERROR! BOOKMARK NOT DEFINED.
4.6 Location of Chief Executive Offices...............................17
4.7 Lessee Duly Licensed..............................................17
4.8 Notice of Certain Events..........................................17
4.9 No Event of Loss or Event of Default..............................18
4.10 Enforceability of Lease.................ERROR! BOOKMARK NOT DEFINED.
SECTION 5. Conditions Precedent to Obligation of Lessor and Lessee.........18
SECTION 6. Delivery of the Aircraft.........................................22
6.1 Delivery Location.................................................22
6.2 Acceptance of Delivery............................................22
SECTION 7. Registration, Maintenance and Operation; Possession and Permitted
Subleases; Insignia.........................................................22
7.1 Registration......................................................22
7.2 Maintenance.......................................................22
7.3 Operation.........................................................28
7.4 Possession and Permitted Subleases................................29
{Page}
7.5 Insignia..........................................................32
SECTION 8. Return of the Aircraft...........................................32
8.1 Return............................................................32
8.2 Return of Other Engines...........................................33
8.3 Condition of the Aircraft.........................................33
8.4 Engine Condition..................................................36
8.5 Inspection........................................................36
8.6 Inspections.............................ERROR! BOOKMARK NOT DEFINED.
8.7 Operational Ground Check..........................................38
8.8 Operational Check Flight..........................................38
8.9 Acceptance........................................................39
8.10 Deferred Discrepancy Correction...................................39
8.11 Indemnification.........................ERROR! BOOKMARK NOT DEFINED.
8.12 Manuals and Technical Records.....................................39
8.13 Service Bulletin Kits.............................................40
8.14 Lessee's Special Exterior Markings................................41
8.15 Ownership.........................................................41
8.16 Disputes Regarding Return Condition...............................41
SECTION 9. Liens............................................................42
SECTION 10. Loss, Destruction, Requisition, etc.............................44
10.1 Event of Loss with Respect to the Aircraft........................44
10.2 Event of Loss with Respect to an Engine...........................45
10.3 Application of Payments from Governmental Authorities for
Requisition of Title, etc.........................................47
10.4 Requisition for Use of the Aircraft by the United States
Government or the Government Under Which the Aircraft Are
Registered or Based...............................................48
10.5 Requisition for Use of an Engine by the United States
Government or the Government Under Which the Aircraft Are
Registered or Based...............................................48
10.6 Application of Payments During Existence of an Event of Default...49
10.7 Repairable Damage; Use of Insurance Proceeds......................49
SECTION 11. Insurance.......................................................50
11.1 All-Risk Insurance................................................50
11.2 War Risk Insurance................................................50
11.3 Liability Insurance...............................................51
11.4 Additional Requirements; Loss Payment.............................52
11.5 No Set-off..............................ERROR! BOOKMARK NOT DEFINED.
11.6 Application of Hull Insurance Proceeds............................54
11.7 Insurance for Own Account.........................................55
11.8 Reports...........................................................55
11.9 Continuing Insurance....................ERROR! BOOKMARK NOT DEFINED.
ii
{Page}
11.10 Self-Insurance; Deductibles......................................56
SECTION 12. Indemnities.....................................................57
12.1 General Indemnification...........................................57
12.2 General Tax Indemnity.............................................61
12.3 Withholding.......................................................70
SECTION 13. Assignments and Subleasing......................................71
13.1 By Lessee.........................................................71
13.2 By Lessor.........................................................75
SECTION 14. Events of Default...............................................77
SECTION 15. Remedies........................................................79
SECTION 16. Further Assurances..............................................82
SECTION 17. Notices.........................................................83
SECTION 18. Net Lease, No Set-Off, Counterclaim, Etc........................84
SECTION 19. Lessor's Right to Perform for Lessee............................86
SECTION 20. Lessor Assignment of Rights and Warranties......................86
SECTION 21. Miscellaneous...................................................87
SECTION 22. Options to Purchase; Options to Renew...........................88
22.1 Renewal Option....................................................88
22.2 [Purchase Options.......................ERROR! BOOKMARK NOT DEFINED.
SECTION 23. Covenant of Quiet Enjoyment.....................................93
SECTION 24. Choice of Law; Service of Process...............................94
SECTION 25. Language..............................ERROR! BOOKMARK NOT DEFINED.
iii
{Page}
This is Counterpart No. _____ of 4 serially numbered and manually executed
counterparts. To the extent, if any, that this document constitutes chattel
paper under the Uniform Commercial Code, no security interest in this document
may be created through the transfer and possession of any counterpart other than
Counterpart No. 1.
AIRCRAFT LEASE AGREEMENT
This AIRCRAFT LEASE AGREEMENT ("Agreement"), dated as of June 25, 1999, is
made by and between ICX Corporation, an Ohio corporation ("Lessor") and
Chautauqua Airlines, Inc., a New York corporation ("Lessee").
W I T N E S S E T H:
SECTION 1. DEFINITIONS.
As used in this Agreement, the following terms shall have the following
meanings:
1.1. "ACCEPTANCE CERTIFICATE" means the certificate in substantially the
form of Exhibit B hereto to be executed by Lessee on the Delivery Date.
1.2. "AFFILIATE" means, with respect to any Person, any other Person
directly or indirectly controlling, controlled by or under common control with
such Person. For purposes of this definition, "control" (including "controlled
by" and "under common control with") means the power, directly or indirectly, to
direct or cause the direction of the management and policies of such Person,
whether through the ownership of voting securities or by contract or otherwise.
1.3. "AIRCRAFT" means the Airframe identified and described in the Lease
Supplement, to be delivered and leased hereunder; (ii) the Engines initially
leased hereunder as described in the Lease Supplement (or any engine substituted
for any of such Engines pursuant to the terms hereof), whether or not any of
such initial or substituted Engines may from time to time be installed on such
initial or substituted Airframe or may be installed on any other airframe or on
any other aircraft; and (iii) where the context permits, the Manuals and
Technical Records.
1.4. "AIRFRAME" means (i) the Embraer ERJ-145LR aircraft (except Engines
or engines from time to time installed thereon) specified in the Lease
Supplement and having the United States registration number and manufacturer's
serial number specified in the Lease Supplement, which aircraft shall be leased
by Lessor to Lessee hereunder and under the Lease Supplement; (ii) any aircraft
(except Engines or engines from time to time installed thereon) which may from
time to time be substituted for such aircraft (except Engines or engines from
time to time installed thereon) pursuant to the terms hereof; and (iii) any and
all Parts which are from time to time incorporated or installed in or attached
thereto or which have been removed therefrom, but where title to which remains
vested in Lessor in accordance herewith.
117555
|
Chase Manhattan
As referenced in this Aircraft Lease Agreement:
Chase Manhattan Bank, – passengers and/or property in common carriage.
1.6. "BASE RATE" means the rate of interest announced from time to time by
the Chase Manhattan Bank, at its principal office in New York, New York, as its
prime or reference rate.
1.7. "BASIC RENT" means, for the
_____________
dt 101557
;
Republic
As referenced in this Aircraft Lease Agreement:
REPUBLIC AIRWAYS HOLDINGS INC –
REPUBLIC AIRWAYS HOLDINGS INC
_____________
dt 1850005
;
| ICX Corporation;
Chautauqua Airlines, Inc.
|
| Preview
Full Doc
| 2003 |
Aircraft Lease Agreement
Aircraft Lease Agreement (90K)
Doc #142537: Click preview link for longer preview.
AIRCRAFT LEASE AGREEMENT
between
Miramonte Aviation, LLC
as LESSOR
and
MPW Industrial Services Group, Inc.
as LESSEE
Dated: May 12, 2003
To the extent, if any, this instrument constitutes chattel paper under the UCC,
no security interest herein may be created through the transfer and/or
possession of any counterpart other than the counterpart marked "Secured Party's
Original".
'Copy'. No interest herein may be created in the aircraft subject hereto through
the transfer and/or possession hereof' ".
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Section Page
------- ----
{S} {C} {C}
1 LEASE AND CONDITION. . . . . . . . . . . . . . . . . . 3
2 TERM. . . . . . . . . . . . . . . . . . . . . . . . . 3
3 RENTAL PAYMENTS . . . . . . . . . . . . . . . . . 3
4 DELIVERY AND ACCEPTANCE . . . . . . . . . . . . . . . . 3
5 POSSESSION, USE, AND OPERATION OF AIRCRAFT . . . . . . 4
6 MAINTENANCE AND REPAIR . . . . . . . . . . . . . . . . 4
7 RETURN OF AIRCRAFT . . . . . . . . . . . . . . . . . . 5
8 RISK OF LOSS AND INDEMNIFICATION . . . . . . . . . . . 7
9 NET LEASE . . . . . . . . . . . . . . . . . . . . . . . 7
10 INSURANCE . . . . . . . . . . . . . . . . . . . . . . . 8
11 PROCEDURE ON LOSS, REQUISITION, OR DAMAGE . . . . . . . 8
12 EVENTS OF DEFAULT . . . . . . . . . . . . . . . . . . . 10
13 REMEDIES ON DEFAULT . . . . . . . . . . . . . . . . . . 10
14 LESSOR MAY ASSIGN AND ENCUMBER . . . . . . . . . . . . 11
15 ASSIGNMENT OR SUBLEASE BY LESSEE . . . . . . . . . . . 12
16 WARRANTIES . . . . . . . . . . . . . . . . . . . . . . 12
17 TAXES . . . . . . . . . . . . . . . . . . . . . . . . . 12
18 REPRESENTATIONS OF LESSEE . . . . . . . . . . . . . . . 13
19 DEFINITIONS . . . . . . . . . . . . . . . . . . . . . . 14
20 MISCELLANEOUS . . . . . . . . . . . . . . . . . . . . . 15
EXHIBITS
A. Aircraft Lease Schedule . . . . . . . . . . . . . . . . 17
B. Certificate of Acceptance . . . . . . . . . . . . . . . 20
{/TABLE}
2
{PAGE}
AIRCRAFT LEASE AGREEMENT
THIS AIRCRAFT LEASE AGREEMENT ("Lease") dated as of May 14, 2003 by and
between Miramonte Aviation, LLC, an Ohio limited liability company (hereinafter
called "Lessor"), and MPW Industrial Services Group, Inc., an Ohio corporation
(hereinafter called "Lessee"). (Words or phrases having initial capitals which
are not otherwise defined have the meanings set forth in Section 19.)
W I T N E S S E T H :
WHEREAS, Lessor owns certain Aircraft.
WHEREAS, Lessor desires to lease, and Lessee desires to hire, the
Aircraft pursuant to the terms and conditions hereinafter set forth.
NOW THEREFORE, in consideration of the mutual promises herein set
forth, Lessor and Lessee covenant and agree as follows:
1. LEASE AND CONDITIONS
Lessor agrees to and does hereby lease, and Lessee agrees to and does
hereby rent, lease and hire, the Aircraft described in the Aircraft Lease
Schedule (the "Schedule") attached hereto and made a part hereof as Exhibit A.
The parties hereto intend this Lease to be a true lease and Lessee
understands and agrees that it acquires only a leasehold interest hereunder and
that it does not acquire any right of beneficial ownership or equity in the
Aircraft by payment of rentals hereunder, and Lessee acknowledges that title to
the Aircraft remains in the Lessor. Except as any secured party or the Lessor
with the consent of any such secured party may specifically direct in writing,
Lessee shall not have the right to register the Aircraft in Lessee's name with
the United States Federal Aviation Administration ("FAA") or with any other
governing authority.
This Lease of the Aircraft includes any and all Engines, Main
Components, avionics, appliances, parts, instruments, appurtenances,
accessories, furnishings and other equipment of whatever nature which may from
time to time be part of, attached to, incorporated in, or installed on the
Aircraft and all such components which shall have been removed or detached from
the Aircraft until a substitute or replacement component shall have been
provided pursuant to Section 6.2 hereof.
2. TERM
The Lease Term for the Aircraft shall commence upon the written
acceptance of this Lease by the Lessee, and shall terminate on the date set
forth in the Aircraft Lease Schedule, Exhibit A.
3. RENTAL PAYMENTS
Lessee covenants and agrees to pay Lessor rent (the "Rent") for the use
of the Aircraft as set forth in the Schedule. Rent plus any applicable state
sales and/or use taxes with respect to this Lease for the entire Term of this
Lease shall be due and payable in advance commencing on acceptance as set forth
in the Certificate of Acceptance to the Aircraft Lease Schedule and on the first
day of each and every month during the remainder of the rental term and any
extension hereof. Rent for partial months at the beginning and end of any term
hereunder shall be prorated at a daily rate equal to 1/30th of the monthly
rental. In addition, the Lessee shall pay to Lessor any and all other amounts
payable hereunder, if any, which the Lessee assumes the obligation to pay, or
agrees to pay under this Lease to Lessor or others, if any, including, without
limitation, any amount payable hereunder as Casualty Loss Value. All payments of
Rent and other sums due hereunder shall be made to Lessor on the date payable
hereunder by check drawn payable to Lessor and delivered at its address set
forth herein or at such other address or to such other person as the Lessor may
from time to time direct by notice in writing to Lessee. Any Rent or other
payment due hereunder which is not paid prior to the tenth day following the due
date for such payment shall bear interest from maturity until paid at the lesser
of the rate equal to three percentage points plus the prime rate charged from
time to time by Chase Manhattan Bank, N.A. or the maximum rate of interest from
time to time permitted under applicable law.
142537
|
Chase Manhattan
As referenced in this Aircraft Lease Agreement:
Chase Manhattan Bank, – until paid at the lesser
of the rate equal to three percentage points plus the prime rate charged from
time to time by Chase Manhattan Bank, N.A. or the maximum rate of interest from
time to time permitted under applicable law.
3
{PAGE}
4. DELIVERY AND ACCEPTANCE
_____________
dt 101724
;
MPW Industrial
As referenced in this Aircraft Lease Agreement:
MPW Industrial Services Group, Inc –
{DOCUMENT}
{TYPE}EX-10.A
{SEQUENCE}3
{FILENAME}l00863aexv10wa.txt
{DESCRIPTION}EXHIBIT 10(A)
{TEXT}
{PAGE}
EXHIBIT 10(a)
AIRCRAFT LEASE AGREEMENT
between
Miramonte Aviation, LLC
as LESSOR
and
MPW Industrial Services Group, Inc .
as LESSEE
Dated: May 12, 2003
To the extent, if any, this instrument constitutes chattel paper under the UCC,
no security interest herein may be created through the transfer
_____________
MPW Industrial Services Group, Inc – PAGE}
AIRCRAFT LEASE AGREEMENT
THIS AIRCRAFT LEASE AGREEMENT ("Lease") dated as of May 14, 2003 by and
between Miramonte Aviation, LLC, an Ohio limited liability company (hereinafter
called "Lessor"), and MPW Industrial Services Group, Inc ., an Ohio corporation
(hereinafter called "Lessee"). (Words or phrases having initial capitals which
are not otherwise defined have the meanings set forth in Section 19.)
W I T N
_____________
MPW Industrial Services Group, Inc – for first class certified
mail, return receipt requested, addressed as follows:
If to Lessor: Miramonte Aviation, LLC
Attn; Mr. Monte Black
9711 Lancaster Rd.
Hebron, OH 43025
If to Lessee: MPW Industrial Services Group, Inc .
Attn: Mr. Rick Kahle
9711 Lancaster Rd.
Hebron, OH 43025
or to such other address as Lessor or Lessee, may from time to time designate in
writing.
15
{PAGE}
_____________
MPW Industrial Services Group, Inc – LEASE IN THE AIRCRAFT AT ALL TIMES.
IN WITNESS WHEREOF, the parties hereto have executed this Lease as of
May 12, 2003.
{TABLE}
{S} {C}
(Lessor) Miramonte Aviation, LLC (Lessee) MPW Industrial Services Group, Inc .
(Address)_______________________
_______________________
_______________________
By: /s/ Monte R. Black By: /s/ Richard R. Kahle
Title: Member Title: VP-CFO
{/TABLE}
17
{PAGE}
EXHIBIT A
AIRCRAFT LEASE SCHEDULE
Aircraft Lease
_____________
MPW
Industrial Services Group, Inc – Title: VP-CFO
{/TABLE}
17
{PAGE}
EXHIBIT A
AIRCRAFT LEASE SCHEDULE
Aircraft Lease Agreement, dated as of May 12, 2003.
This Aircraft Lease Schedule is entered into by and between MPW
Industrial Services Group, Inc . (Lessee) and Miramonte Aviation, LLC (Lessor).
Lessor and Lessee hereby agree to append this Aircraft Lease Schedule
and all exhibits, attachments, schedules and tables thereto (the "Schedule") to
the
_____________
dt 1501424
;
| Miramonte Aviation, LLC
|
| Preview
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Aircraft Lease Agreement
Aircraft Lease Agreement (263K)
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AIRCRAFT LEASE AGREEMENT
THIS AIRCRAFT LEASE AGREEMENT is made and entered into as of July 16, 2001.
BETWEEN:
HAWAIIAN AIRLINES, INC., a Hawaii corporation whose address and principal place of business is at 3375 Koapaka Street, Suite G350, Honolulu, Hawaii 96819 ("LESSEE") and
INTERNATIONAL LEASE FINANCE CORPORATION, a California corporation whose address and principal place of business is at 1999 Avenue of the Stars, 39th Floor, Los Angeles, California 90067 ("LESSOR").
The subject matter of this Lease is one (1) used B767-3G5ER aircraft. In consideration of and subject to the mutual covenants, terms and conditions contained in this Lease, LESSOR hereby agrees to lease to LESSEE and LESSEE hereby agrees to lease from LESSOR the Aircraft (as defined below) and the parties further agree as follows:
ARTICLE 1 DEFINITIONS
Except where the context otherwise requires, the following words have the following meanings for all purposes of this Lease. The defi1nitions are equally applicable to the singular and plural forms of the words. Any agreement defined below includes each amendment, modification, supplement and waiver thereto in effect from time to time.
1.1 General Definitions.
"Aircraft" means the Airframe, two (2) Engines, Parts and Aircraft Documentation, collectively. As the context requires, "Aircraft" may also mean the Airframe, any Engine, any Part, the Aircraft Documentation or any part thereof individually. For example, in the context of return to LESSOR the term "Aircraft" means the Airframe, Engines, Parts and Aircraft Documentation collectively, yet in the context of LESSEE not creating any Security Interests other than Permitted Liens on the Aircraft, the term "Aircraft" means any of the Airframe, any Engine, any Part or the Aircraft Documentation individually.
"Aircraft Documentation" means all (a) log books, Aircraft records, manuals and other documents provided to LESSEE in connection with the Aircraft, (b) documents listed in Exhibits G and M and (c) any other documents required to be maintained during the Lease Term by the Aviation Authority, LESSEE's Maintenance Program and this Lease.
"Airframe" means the airframe listed in the Estoppel and Acceptance Certificate executed at Delivery together with all Parts relating thereto (except Engines or engines).
"Airworthiness Directives" or "ADs" means all airworthiness directives of the FAA.
"APU" means the auxiliary power unit of the Aircraft.
"Aviation Authority" means the FAA or any Government Entity which under the Laws of the U.S. from time to time has control over civil aviation or the registration, airworthiness or operation of aircraft in the U.S. If the Aircraft is registered in a country other than the U.S., "Aviation Authority" means the agency which regulates civil aviation in such other country.
"Aviation Documents" means any or all of the following which at any time may be obtainable from the Aviation Authority: (a) the certificate of registration for the Aircraft issued by the State of Registration, (b) a full certificate of airworthiness for the Aircraft specifying transport category (passenger), (c) an air transport license, (d) an air operator's certificate, (e) such recordation of LESSOR's title to the Aircraft and interest in this Lease as may be available in the State of Registration and (f) all such other authorizations, approvals, consents and certificates in the State of Registration as may be required to enable LESSEE lawfully to operate the Aircraft.
"Basic Engine" means those units and components of the Engine which are used to induce and convert fuel/air mixture into thrust/power; to transmit power to the fan and accessory drives; to supplement the function of other defined systems external to the Engine; and to control and direct the flow of internal lubrication, plus all essential accessories as supplied by the Engine manufacturer. The nacelle, installed components related to the Aircraft systems, thrust reversers, QEC and the primary exhaust nozzle are excluded.
"Business Day" means a day other than a Saturday or Sunday on which the banks in the city where LESSOR's Bank is located are open for the transaction of business of the type required by this Lease.
"Creditor" means any lessor, owner, bank, lender, mortgagee or other Person which is the owner of or has any interest in an aircraft engine or aircraft operated by LESSEE.
"Creditor Agreement" means the applicable agreement between a Creditor and LESSEE or between Creditors pursuant to which such Creditor owns, leases or has an interest in either an aircraft operated by LESSEE on which an Engine may be installed or in an aircraft engine which may be installed on the Airframe.
"Default" means any event which, upon the giving of notice, the lapse of time and/or a relevant determination, would constitute an Event of Default.
"Delivery" means the delivery of the Aircraft from LESSOR to LESSEE pursuant to Articles 2 and 5.
142571
|
Chase Manhattan
As referenced in this Aircraft Lease Agreement:
Chase Manhattan Bank – incorporated or unincorporated, whether having distinct legal personality or not.
"Prime Rate" means the rate of interest from time to time announced by Chase Manhattan Bank in New York as its prime commercial lending rate.
"Prior Lessee" means LTU Lufttransport-Unternehmen GmbH.
"Prior Lessee Lease Agreement" means the aircraft
_____________
Chase Manhattan Bank – transfer of immediately available U.S. Dollar funds to LESSOR's bank account at:
International Lease Finance
Corporation Account No. 910-274-9067
Chase Manhattan Bank
55 Water Street
New York, NY 10041
ABA# 021000021
or to such other bank account as LESSOR may from time to time
_____________
Chase Manhattan Bank – Maintenance Program
12. Agreed Value of Aircraft
US$[redacted]
13. LESSOR's Bank Account
International Lease Finance Corporation
Account No. 910-274-9067
Chase Manhattan Bank
55 Water Street
New York, NY 10041
ABA# 021000021
EXHIBIT D COMMERCIAL TERMS
1. Security Deposit.
(a) [Redacted]
(b) The Security Deposit
_____________
dt 101726
;
| International Lease Finance Corporation;
Hawaiian Airlines Inc.
|
| Preview
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Aircraft Lease Agreement
Aircraft Lease Agreement (279K)
Doc #142593: Click preview link for longer preview.
AIRCRAFT LEASE AGREEMENT
Dated as of May 25, 2000
BETWEEN
FRONTIER AIRLINES, INC.
as LESSEE
and
INTERNATIONAL LEASE FINANCE CORPORATION
as LESSOR
Aircraft Make and Model: New Airbus A318-100
Aircraft Manufacturer's Serial Number: Per Exhibit E
Aircraft Registration Mark: Per Exhibit E
Make and Model of Engines: PW 6124
Serial Numbers of Engines: Per Exhibit E
NEW AIRCRAFT NO. 1
{PAGE}
TABLE OF CONTENTS
ARTICLE 1 SUMMARY OF TRANSACTION.........................................2
1.1 Description of Aircraft........................................2
1.2 Scheduled Delivery Date and Location...........................2
1.3 Initial Lease Term.............................................2
1.4 Lease Extension Options........................................2
1.5 Security Deposit...............................................2
1.6 Transaction Fee................................................3
1.7 Rent During Initial Lease Term.................................3
1.8 Rent During Lease Extension Term...............................3
1.9 Reserves.......................................................4
1.10 Country of Aircraft Registration...............................5
1.11 Maintenance Program............................................5
1.12 Agreed Value of Aircraft.......................................5
1.13 LESSOR's Bank Account..........................................5
ARTICLE 2 DEFINITIONS....................................................7
2.1 General Definitions............................................7
2.2 Specific Definitions..........................................12
ARTICLE 3 PLACE AND DATE OF DELIVERY....................................14
3.1 Place of Delivery.............................................14
3.2 Scheduled Delivery Date.......................................14
3.3 Delivery subject to Manufacturer Delivery.....................14
3.4 No LESSOR Liability...........................................14
3.5 Total Loss of Aircraft prior to Delivery......................14
3.6 Cancellation for Delay........................................14
3.7 Delay.........................................................15
ARTICLE 4 LEASE TERM AND EXTENSION OPTION...............................16
4.1 Initial Lease Term............................................16
4.2 Lease Extension Options.......................................16
4.3 "Lease Term" and "Expiration Date"............................16
4.4 "Termination Date"............................................16
ARTICLE 5 SECURITY DEPOSIT, TRANSACTION FEE, RENT,
RESERVES AND OTHER PAYMENTS...................................18
5.1 Security Deposit..............................................18
5.2 Transaction Fee...............................................19
5.3 Rent..........................................................19
5.4 Reserves......................................................21
5.5 LESSOR's Bank Account.........................................22
5.6 Default Interest..............................................23
5.7 No Deductions or Withholdings.................................23
5.8 Value Added Taxes.............................................23
5.9 Wire Transfer Disbursement Report.............................24
5.10 Net Lease.....................................................24
5.11 LESSOR Performance of LESSEE Obligation.......................25
5.12 Consideration for Rent and other Amounts......................25
ARTICLE 6 INVOLVEMENT WITH AIRCRAFT MANUFACTURER........................26
6.1 LESSEE Selection of Aircraft..................................26
6.2 Participation Agreement.......................................26
6.3 Procurement of BFE............................................26
6.4 LESSEE Inspection of Aircraft.................................26
6.5 Aircraft at Delivery..........................................26
6.6 Delivery of the Aircraft to LESSEE............................27
6.7 LESSEE Acceptance of Aircraft.................................27
ARTICLE 7 PRE-DELIVERY, DELIVERY AND POST-DELIVERY DOCUMENTARY
AND OTHER REQUIREMENTS........................................28
7.1 Pre-Delivery Requirements.....................................28
7.2 LESSOR's Pre-Delivery Requirements............................29
7.3 Delivery Requirements.........................................29
7.4 Post-Delivery Requirements....................................30
ARTICLE 8 DISCLAIMERS...................................................31
8.1 "As Is, Where Is".............................................31
8.2 Waiver of Warranty of Description.............................31
8.3 LESSEE Waiver.................................................32
8.4 Conclusive Proof..............................................32
8.5 No LESSOR Liability for Losses................................32
8.6 No Liability to Repair or Replace.............................33
8.7 No Waiver.....................................................33
ARTICLE 9 MANUFACTURERS' AND VENDORS' WARRANTIES........................34
9.1 Warranties....................................................34
9.2 Non-Assignable Warranties.....................................34
9.3 Reassignment..................................................34
9.4 Warranty Claims...............................................34
ARTICLE 10 OPERATION OF AIRCRAFT.........................................35
10.1 Costs of Operation............................................35
10.2 Compliance with Laws..........................................35
10.3 Training......................................................35
10.4 No Violation of Insurance Policies............................35
10.5 Flight Charges................................................35
ARTICLE 11 SUBLEASES.....................................................37
11.1 No Sublease without LESSOR Consent............................37
11.2 LESSOR Costs..................................................37
11.3 Any Approved Sublease.........................................37
11.4 Assignment of Sublease........................................38
11.5 Continued Responsibility of LESSEE............................38
ARTICLE 12 MAINTENANCE OF AIRCRAFT.......................................39
12.1 General Obligation............................................39
12.2 Specific Obligations..........................................39
12.3 Replacement of Parts..........................................41
12.4 Removal of Engines............................................42
12.5 Pooling of Engines and Parts..................................42
12.6 Installation of Engines on other aircraft.....................42
12.7 Engine Thrust Rating..........................................43
12.8 Modifications.................................................43
12.9 Performance of Work by Third Parties..........................45
12.10 Reporting Requirements........................................45
12.11 Information Regarding Maintenance Program.....................45
12.12 LESSOR Rights to Inspect Aircraft.............................45
ARTICLE 13 USE OF RESERVES...............................................46
13.1 Airframe Reserves.............................................46
13.2 Engine Performance Restoration Reserves.......................46
13.3 Engine LLP Reserves...........................................47
13.4 Landing Gear Reserves.........................................47
13.5 Reimbursement.................................................47
13.6 Reimbursement Adjustment......................................48
13.7 Costs in Excess of Reserves...................................48
13.8 Reimbursement after Termination Date..........................48
ARTICLE 14 TITLE AND REGISTRATION........................................49
14.1 Title to the Aircraft During Lease Term.......................49
14.2 Registration of Aircraft......................................49
14.3 Filing of this Lease..........................................49
14.4 Evidence of Registration and Filings..........................49
ARTICLE 15 IDENTIFICATION PLATES.........................................50
15.1 Airframe Identification Plates................................50
15.2 Engine Identification Plates..................................50
ARTICLE 16 TAXES.........................................................51
16.1 General Obligation of LESSEE..................................51
16.2 Exceptions to Indemnity.......................................51
16.3 After-Tax Basis...............................................52
16.4 Timing of Payment.............................................52
16.5 Contests......................................................53
16.6 Refunds.......................................................53
16.7 Cooperation in Filing Tax Returns.............................53
16.8 Survival of Obligations.......................................53
ARTICLE 17 INDEMNITIES...................................................54
17.1 General Indemnity.............................................54
17.2 Exceptions to General Indemnities.............................55
17.3 After-Tax Basis...............................................56
17.4 Timing of Payment.............................................56
17.5 Subrogation...................................................56
17.6 Notice........................................................56
17.7 Refunds.......................................................56
17.8 Defense of Claims.............................................56
17.9 Survival of Obligation........................................57
ARTICLE 18 INSURANCE.....................................................58
18.1 Categories of Insurance.......................................58
18.2 Write-back of any Date Recognition Exclusion..................58
18.3 Insurance for Indemnities.....................................58
18.4 Insurance required by Manufacturer............................58
18.5 Renewal.......................................................58
18.6 Assignment of Rights by LESSOR................................58
18.7 Other Insurance...............................................59
18.8 Information...................................................59
18.9 Currency......................................................59
18.10 Grounding of Aircraft.........................................59
18.11 Failure to Insure.............................................59
18.12 Reinsurance...................................................59
18.13 Limit on Hull in favor of LESSEE..............................60
ARTICLE 19 LOSS, DAMAGE AND REQUISITION..................................61
19.1 Definitions...................................................61
19.2 Notice of Total Loss..........................................62
19.3 Total Loss of Aircraft or Airframe............................62
19.4 Surviving Engine(s)...........................................63
19.5 Total Loss of Engine and not Airframe.........................63
19.6 Other Loss or Damage..........................................64
19.7 Copy of Insurance Policy......................................65
19.8 Government Requisition........................................65
19.9 LESSOR Retention of Reserves; Return of Security
Deposit and Prepaid Rent................65
ARTICLE 20 REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSEE...........67
20.1 Representations and Warranties................................67
20.2 Covenants.....................................................68
ARTICLE 21 REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSOR...........71
21.1 Representations and Warranties................................71
21.2 Covenant of Quiet Enjoyment...................................72
ARTICLE 22 FINANCIAL AND RELATED INFORMATION.............................73
ARTICLE 23 RETURN OF AIRCRAFT............................................74
23.1 Date of Return................................................74
23.2 Technical Report..............................................74
23.3 Return Location...............................................74
23.4 Full Aircraft Documentation Review............................74
23.5 Aircraft Inspection...........................................74
23.6 Certificate of Airworthiness Matters..........................75
23.7 General Condition of Aircraft at Return.......................76
23.8 Checks Prior to Return........................................79
23.9 Part Lives....................................................81
23.10 Export and Deregistration of Aircraft.........................83
23.11 LESSEE's Continuing Obligations...............................83
23.12 Airport and Navigation Charges................................84
23.13 Return Acceptance Certificate.................................84
23.14 Indemnities and Insurance.....................................85
23.15 Civil Reserve Air Fleet.......................................85
ARTICLE 24 ASSIGNMENT....................................................87
24.1 No Assignment by LESSEE.......................................87
24.2 Sale or Assignment by LESSOR..................................87
24.3 LESSOR's Lender...............................................87
24.4 LESSEE Cooperation............................................87
24.5 Protections...................................................88
ARTICLE 25 DEFAULT OF LESSEE.............................................89
25.1 LESSEE Notice to LESSOR.......................................89
25.2 Events of Default.............................................89
25.3 LESSOR's General Rights.......................................91
25.4 Deregistration and Export of Aircraft.........................91
25.5 LESSEE Liability for Damages..................................91
25.6 Waiver of Default.............................................92
25.7 Present Value of Payments.....................................92
25.8 Use of "Termination Date".....................................93
25.9 LESSEE's Remedies.............................................93
25.10 Waiver of Consequential Damages...............................93
ARTICLE 26 NOTICES.......................................................94
26.1 Manner of Sending Notices.....................................94
26.2 Notice Information............................................94
ARTICLE 27 GOVERNING LAW AND JURISDICTION................................95
27.1 California Law................................................95
27.2 Non-Exclusive Jurisdiction in California......................95
27.3 Service of Process............................................95
27.4 Prevailing Party in Dispute...................................95
27.5 Waiver........................................................95
ARTICLE 28 MISCELLANEOUS.................................................96
28.1 Transportation of Personnel...................................96
28.2 Press Releases................................................96
28.3 Power of Attorney.............................................96
28.4 LESSOR Performance for LESSEE.................................96
28.5 LESSOR's Payment Obligations..................................96
28.6 Application of Payments.......................................96
28.7 Usury Laws....................................................96
28.8 Delegation by LESSOR..........................................97
28.9 Confidentiality...............................................97
28.10 Rights of Parties.............................................97
28.11 Further Assurances............................................97
28.12 Use of Word "including".......................................98
28.13 Headings......................................................98
28.14 Invalidity of any Provision...................................98
28.15 Time is of the Essence........................................98
28.16 Amendments in Writing.........................................98
28.17 Counterparts..................................................98
28.18 Delivery of Documents by Fax..................................98
28.19 Entire Agreement..............................................98
28.20 Expenses......................................................99
EXHIBIT A AIRCRAFT DESCRIPTION.........................................101
EXHIBIT B PARTICIPATION AGREEMENT......................................102
EXHIBIT C CERTIFICATE OF INSURANCE.....................................112
EXHIBIT D BROKERS' LETTER OF UNDERTAKING...............................119
EXHIBIT E ESTOPPEL AND ACCEPTANCE CERTIFICATE..........................121
EXHIBIT F OPINION OF COUNSEL...........................................123
EXHIBIT G FORM OF POWER OF ATTORNEY....................................124
EXHIBIT H ASSIGNMENT OF RIGHTS (AIRFRAME)..............................126
EXHIBIT I ASSIGNMENT OF RIGHTS (ENGINES)...............................133
EXHIBIT J RETURN ACCEPTANCE RECEIPT....................................135
EXHIBIT K MONTHLY REPORT...............................................145
EXHIBIT L AIRCRAFT DOCUMENTATION.......................................148
EXHIBIT M TECHNICAL EVALUATION REPORT..................................150
{PAGE}
AIRCRAFT LEASE AGREEMENT
THIS AIRCRAFT LEASE AGREEMENT is made and entered into as of May 25, 2000.
BETWEEN:
FRONTIER AIRLINES, INC., a Colorado corporation whose address and principal
place of business is at 12015 East 46th Avenue, Suite 200, Denver, Colorado
80239 ("LESSEE") and ------
INTERNATIONAL LEASE FINANCE CORPORATION, a California corporation whose
address and principal place of business is at 1999 Avenue of the Stars, 39th
Floor, Los Angeles, California 90067, United States of America ("LESSOR").
The subject matter of this Lease is one (1) new Airbus A318-100 aircraft as
more particularly described on Exhibit A attached hereto. In consideration of
and subject to the mutual covenants, terms and conditions contained in this
Lease, LESSOR hereby agrees to lease to LESSEE and LESSEE hereby agrees to lease
from LESSOR the a |