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8-K - FORM 8-K - INTERNATIONAL LEASE FINANCE CORPv54053e8vk.htm
EX-10.3 - EX-10.3 - INTERNATIONAL LEASE FINANCE CORPv54053exv10w3.htm
EX-10.2 - EX-10.2 - INTERNATIONAL LEASE FINANCE CORPv54053exv10w2.htm
EX-10.4 - EX-10.4 - INTERNATIONAL LEASE FINANCE CORPv54053exv10w4.htm
Exhibit 10.1
November 23, 2009
Federal Reserve Bank of New York
33 Liberty Street
New York, NY 10045-0001
Attention:    Steven Manzari, Credit, Investment & Payment Risk
Telecopy No.: (212) 720-6332
James R. Hennessey, Legal Department
Telecopy No.: (212) 720-7797
AIG Funding, Inc., as Lender
72 Wall Street, 10th Floor
New York, NY 10005
Attention:    Neil Friedman
Telecopy No.: (212) 363-7176
AMENDMENT AGREEMENT
     Reference is made to that certain (i) Credit Agreement dated as of October 13, 2009 (the “Credit Agreement”), among International Lease Finance Corporation, a California corporation (the “Parent Borrower”), States Aircraft, Inc., a California corporation (the “U.S. Subsidiary Borrower”), Shrewsbury Aircraft Leasing Limited, a private limited liability company incorporated under the laws of Ireland with registration number 475896 (the “Irish Subsidiary Borrower” and together with the Parent Borrower and the U.S. Subsidiary Borrower, the “Borrowers”), Top Aircraft, Inc., a California corporation (“Holdings”), ILFC Ireland Limited, a private limited liability company incorporated under the laws of Ireland with registration number 20936 (“ILFC Ireland”), ILFC France S.a.r.l, a société à responsabilité limitée incorporated under the laws of France (“ILFC France”), ILFC Labuan Ltd., a Labuan private limited liability company incorporated under the Offshore Companies Act 1990 of Malaysia (“ILFC Labuan” and together with ILFC Ireland and ILFC France, the “Initial Intermediate Lessees”), AIG Funding, Inc., a Delaware corporation (the “Lender”), and Wells Fargo Bank Northwest, National Association, a national banking association (“Wells Fargo”), as Security Trustee, (ii) Amended and Restated Credit Agreement dated as of October 13, 2009 (the “Amended and Restated Credit Agreement” and, together with the Credit Agreement, the “Credit Agreements”), among the Borrowers, Holdings, the Initial Intermediate Lessees, the Lender, and Wells Fargo, as Security Trustee, (iii) First Lien Borrower Party Guarantee Agreement dated as of October 13, 2009 by each Borrower, Holdings and each Intermediate Lessee in favor of the FRBNY (the

 


 

First Lien Guarantee Agreement”), (iv) Third Lien Borrower Party Guarantee Agreement dated as of October 13, 2009 by each Borrower, Holdings and each Intermediate Lessee in favor of the FRBNY (the “Third Lien Guarantee Agreement”) and (v) Post-Closing Letter Agreement dated as of October 15, 2009 (the “Post-Closing Letter”), between the Parent Borrower and the Lender and acknowledged by the Federal Reserve Bank of New York (the “FRBNY”) and Daugherty, Fowler, Peregrin, Haught & Jenson. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreements.
SECTION 1 — AMENDMENT
     By signing and returning an executed counterpart of this Amendment Agreement (the “Amendment Agreement”), each of the signatories hereto agrees as follows:
     1. The Parent Borrower has agreed to grant to each of the Security Trustees, respectively, a first-rank French law mortgage, a second-rank French law mortgage, a third-rank French law mortgage and a fourth-rank French law mortgage (each, a “French Mortgage” and, collectively, the “French Mortgages”) over the Pool Aircraft registered in France and listed on Schedule 1 hereto (the “French Aircraft”) and to register such mortgages with the civil aviation registry maintained by the Direction Générale de l’Aviation Civile in France. Each of the signatories hereto agrees that, as of the date hereof, each of the Credit Agreement, Amended and Restated Credit Agreement, First Lien Guarantee Agreement and Third Lien Guarantee Agreement shall be deemed to be amended to reflect that the Secured Parties (as defined in the Mortgage) agree that, in accordance with Article 2328-1 of the French Civil Code, each of the Security Trustees shall have the right to constitute, register, manage and enforce the French Mortgages over the French Aircraft for the account of the Secured Parties (as defined in the Mortgage).
SECTION 2 — MISCELLANEOUS
     (a) Limited Nature of Amendment: The consents of the FRBNY expressly set forth in this Amendment Agreement shall be limited as precisely written and shall not constitute or be deemed to constitute (i) a consent to a departure from any other term or provision of or under the Loan Documents; (ii) a waiver of any Default or of the rights or remedies of the FRBNY under the Loan Documents or under applicable law (except as specifically set forth in this Amendment Agreement); or (iii) an agreement on the part of the FRBNY to modify, alter, amend, waive or revise any term, condition or provision of the Loan Documents (except as specifically set forth in this Amendment Agreement).
     (b) No Course of Dealing: The FRBNY is not obligated to grant any other consent, amendment or waiver of any kind under the Loan Documents, and this Amendment Agreement does not constitute a course of dealing as between the FRBNY and the Borrowers.
     (c) Binding on Successors and Assigns: This Amendment Agreement shall be binding upon and inure to the benefit of both parties and their respective successors and assigns.

 


 

     (d) Conflict: In the event of any conflict between the provisions of this Amendment Agreement and the Credit Agreements or other Loan Documents, the provisions of this Amendment Agreement will prevail to the extent of such inconsistency.
     (e) Applicable Law: THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
     (f) Counterparts: This Amendment Agreement may be executed in counterparts (and by both parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment Agreement by facsimile transmission or by other electronic communication (such as by e-mail in PDF) shall be effective as delivery of a manually signed counterpart of this Amendment Agreement.
     (g) Headings; Construction: The section headings in this Amendment Agreement are included for convenience of reference only and shall not constitute a part of this Amendment Agreement for any other purpose. Both parties to this Amendment Agreement acknowledge that they were represented by competent counsel in connection with the negotiation, drafting and execution of this Amendment Agreement and that this Amendment Agreement shall not be subject to the principle of construing its meaning against the party that drafted it.
     (h) Ratification; Letter Agreement as a Loan Document: The Loan Documents as expressly modified, and supplemented by this Amendment Agreement are each hereby ratified and confirmed and shall continue in full force and effect. The parties to this Amendment Agreement expressly agree and acknowledge that it shall be designated as, and shall constitute, a Loan Document for all purposes of the Credit Agreements and the other Loan Documents.
[signature page(s) follow]

 


 

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment Agreement to be duly executed by their respective authorized officers as of the day and year first above written.
         
  INTERNATIONAL LEASE FINANCE CORPORATION
 
 
  By:   /s/ Pamela S. Hendry  
    Name:   Pamela S. Hendry  
    Title:   Senior Vice President & Treasurer  
 
  STATES AIRCRAFT, INC.
 
 
  By:   /s/ Pamela S. Hendry  
    Name:   Pamela S. Hendry  
    Title:   Director   
 
                     
SIGNED SEALED AND DELIVERED
by SHREWSBURY AIRCRAFT
LEASING LIMITED by its duly
appointed attorney in the presence of:
      SHREWSBURY AIRCRAFT LEASING
LIMITED
   
 
          By:   /s/ Niall C. Sommerville     
 
                   
By:
  /s/ Jenny Grant           Name: Niall C. Sommerville    
 
                   
Name:
  Jenny Grant           Title:   Director    
Address:
  Aig Centre North Wall Quay Dublin 1                 
Occupation:
  HR Administrator                 
         
  TOP AIRCRAFT, INC.
 
 
  By:   /s/ Pamela S. Hendry  
    Name:   Pamela S. Hendry  
    Title:   Director  

 


 

                     
SIGNED SEALED AND DELIVERED
by ILFC IRELAND LIMITED by its duly
appointed attorney in the presence of:
      ILFC IRELAND LIMITED
 
          By:   /s/ Niall C. Sommerville 
 
               
By:
  /s/ Paul Broderick            Name: Niall C. Sommerville
 
               
Name:
  Paul Broderick            Title:   Director
Address:
  1 Clonfada Wood
Blackrock, Co Dublin 
           
Occupation:
  Accountant             
         
  ILFC FRANCE S.A.R.L.
 
 
  By:   /s/ Niall C. Sommerville   
    Name:  Niall C. Sommerville   
    Title:   Manager  (Gérant)    

 


 

         
         
  ILFC LABUAN LTD.
 
 
  By:   /s/ Julie I. Sackman   
    Name:   Julie I. Sackman   
    Title:   Director   

 


 

         
         
  WELLS FARGO BANK NORTHWEST,
NATIONAL ASSOCIATION, as
Security Trustee
 
 
  By:   /s/ Val T. Orton   
    Name:   Val T. Orton   
    Title:   Vice President   

 


 

         
         
  AIG FUNDING, INC.
 
 
  By:   /s/ Neil Friedman  
    Name:   Neil Friedman  
    Title:   Vice President  
 
  FEDERAL RESERVE BANK OF NEW
YORK
 
 
  By:   /s/ Steven Manzari  
    Name:   Steven Manzari  
    Title:   SVP  

 


 

         
SCHEDULE 1
                                                     
            Airframe                        
    Airframe   Manufacturer and   Engine Manufacturer and   Engine   Engine   Engine   Engine   Country of
#   MSN   Model   Model   MSN 1   MSN 2   MSN 3   MSN 4   Registration
1
    2213     Airbus A319-100   CFM56-5B7/P     575799       575801                     France
2
    2228     Airbus A319-100   CFM56-5B7/P     575815       575816                     France
3
    2279     Airbus A319-100   CFM56-5B7/P     575885       575888                     France
4
    3065     Airbus A319-100   CFM56-5B7/P     697182       697183                     France
5
    1924     Airbus A320-200   CFM56-5B4/P     575534       575535                     France
6
    1949     Airbus A320-200   CFM56-5B4/P     575554       575555                     France
7
    2705     Airbus A320-200   CFM56-5B4/P     577504       577505                     France
8
    2721     Airbus A320-200   CFM56-5B4/P     577526       577530                     France
9
    3051     Airbus A321-200   CFM56-5B3/P     697174       697175                     France
10
    3098     Airbus A321-200   CFM56-5B3/P     697241       697249                     France
11
    3441     Airbus A321-200   CFM56-5B3/3     697456       697685                     France
12
    3401     Airbus A321-200   CFM56-5B3/3     697629       697672                     France
13
    3419     Airbus A321-200   CFM56-5B3/3     697663       697669                     France
14
    3372     Airbus A321-200   CFM56-5B3/3     697515       697607                     France
15
    3399     Airbus A321-200   CFM56-5B3/3     697634       697635                     France
16
    503     Airbus A330-200   CF6-80E1-A3     811201       811202                     France
17
    519     Airbus A330-200   CF6-80E1-A3     811218       811219                     France
18
    584     Airbus A330-200   CF6-80E1-A3     811248       811249                     France
19
    635     Airbus A330-200   Rolls Royce TRENT 772B-60     41308       41309                     France
20
    32868     Boeing B747-400   CF6-80C2-B1F     706539       706540       706541       706542     France
21
    35279     Boeing B737-800   CFM56-7B26/3     896551       896552                     France
22
    32869     Boeing B747-400   CF6-80C2-B1F     706551       706552       706553       706554     France
23
    32871     Boeing B747-400   CF6-80C2-B1F     706623       706624       706625       706626     France
24
    32870     Boeing B747-400ERF   CF6-80C2-B5F     706627       706628       706629       706630     France
25
    32867     Boeing B747-400ERF   CF6-80C2-B5F     706514       706515       706516       706517     France
26
    29402     Boeing B777-200ER   Pratt & Whitney PW4090     P222225       P222226                     France
27
    35782     Boeing B777-300ER   GE90-115BG02     906603       906607                     France
28
    35783     Boeing B777-300ER   GE90-115BG02     906621       906622                     France
29
    32723     Boeing B777-300ER   GE90-115BG01     906108       906109                     France
30
    32724     Boeing B777-300ER   GE90-115BG01     906112       906113                     France
31
    32850     Boeing B777-300ER   GE90-115BG01     906129       906130                     France
32
    32852     Boeing B777-300ER   GE90-115BG01     906143       906144                     France
33
    32725     Boeing B777-300ER   GE90-115BG01     906134       906137                     France
34
    32711     Boeing B777-300ER   GE90-115BG01     906131       906132                     France
35
    35297     Boeing B777-300ER   GE90-115BG02     906377       906378                     France