Common use of Terms of Notes Clause in Contracts

Terms of Notes. (a) On the Delivery Date the Borrower shall issue Notes in respect of the Aircraft in an aggregate original principal amount of the Original Amount therefor to each Lender (or their respective nominees) in such amounts as shall be set forth in Schedule II to the Credit Agreement. (b) Each Note shall bear interest payable on each Interest Payment Date at the Applicable Rate on the unpaid principal amount thereof from the date thereof in the case of the first Interest Payment Date, or otherwise from the immediately preceding Interest Payment Date, to (but excluding) the following Interest Payment Date until such principal amount is paid in full. Interest hereunder and under the Notes shall be calculated on the basis of a year of 360 days and actual number of days elapsed (unless interest on the Notes shall be calculated by reference to the Fixed Rate, in which case such interest shall be calculated on the basis of a year of 360 days consisting of 12 30-day months). If any sum payable under the Notes or under this Mortgage falls due on a day which is not a Business Day, then such sum shall be payable on the next succeeding Business Day, unless such Business Day falls in the following month, in which case such sum shall be payable on the Business Day immediately prior thereto. (c) The principal of the Notes shall be due and payable in 40 consecutive installments (if the Borrower has selected Option A) or 48 consecutive installments (if the Borrower has selected Option B), in each case as set forth in Schedule 1 to the Mortgage Supplement, the first such installment to be due on the first Interest Payment Date. Schedule 1 to the Mortgage Supplement shall be determined as follows: the Original Amount shall be amortized on an annuity basis (using, as the discount rate, the lower of (x) the Applicable Rate for the initial Interest Period or (y) 6%) down to the applicable Balloon Amount, payable on the Final Maturity Date. The Administrative Agent shall prepare Schedule 1 to the Mortgage Supplement and the amortization schedule for each Note based on the methodology described in the preceding sentence. (d) Each Note shall bear interest at the Past Due Rate on any principal thereof and, to the extent permitted by applicable law, interest and other amounts due thereunder and hereunder, not paid when due (whether at stated maturity, by acceleration or otherwise), for any period during which the same shall be overdue, payable on demand by the Lenders given through the Administrative Agent. Any such late payment shall bear interest at the Past Due Rate. (e) The Notes shall be executed on behalf of the Borrower by one of its authorized officers. Notes bearing the signatures of individuals who were at any time the proper officers of the Borrower shall bind the Borrower, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the delivery of such Notes or did not hold such offices at the respective dates of such Notes. No Notes shall be issued hereunder except those provided for in Section 2.02(a) and any Notes issued in exchange or replacement therefor pursuant to the terms of this Mortgage. Each Note issued under this Section 2.02 shall be dated the Delivery Date.

Terms of Notes. (a) On the Delivery Date of each Aircraft the Borrower shall issue Notes in respect of such -------------- Aircraft (the Notes issued in respect of each Aircraft shall be referred to as a "Series") in an aggregate original principal amount ------ of $24,000,000 to the Original Amount therefor to each Lender (or their its respective nominees) in such amounts as shall be set forth in Schedule II to the Credit AgreementAgreement for such Aircraft. (b) Each Note shall bear interest payable on each Interest Payment Date at the Applicable Rate on the unpaid principal amount thereof from the date thereof in the case of the first Interest Payment Date, or otherwise from the immediately preceding Interest Payment Date, to (but excluding) the following Interest Payment Date until such principal amount is paid in full. Interest hereunder and under the Notes shall be calculated on the basis of a year of 360 days and actual number of days elapsed (unless interest on the Notes shall be calculated by reference to the Fixed Rate, in which case such interest shall be calculated on the basis of a year of 360 days consisting of 12 30-day months)elapsed. If any sum payable under the Notes or under this Mortgage falls due on a day which is not a Business Day, then such sum shall be payable on the next succeeding Business Day, unless such Business Day falls in the following month, in which case such sum shall be payable on the Business Day immediately prior thereto. (c) The principal of the Notes of each Series shall be due and payable in 40 120 consecutive installments (if the Borrower has selected Option A) or 48 consecutive installments (if the Borrower has selected Option B), in each case as set forth in Schedule 1 to the Mortgage SupplementSupplement for such Series, the first such installment to be due on the first Interest Payment DateDate following the date of issuance of such Series of Notes. Schedule 1 to The principal of the Mortgage Supplement shall be determined as follows: the Original Amount Notes shall be amortized on an annuity basis (using, as the discount rate, the lower of (x) the Applicable Rate for the initial Interest Period or (y) 6%Loan relating to such Note) down to the applicable Balloon Amount, payable on the Final Maturity DateDate for such Notes. The Administrative Agent shall prepare Schedule 1 to the Mortgage Supplement and the amortization schedule for each Note based on the methodology described in the preceding sentence. (d) Each Note shall bear interest at the Past Due Rate on any principal thereof and, to the extent permitted by applicable law, interest and other amounts due thereunder and hereunder, not paid when due (whether at stated maturity, by acceleration or otherwise), for any period during which the same shall be overdue, payable on demand by the Lenders Lender given through the Administrative Agent. Any such late payment shall bear interest at the Past Due RateRate and shall also be subject to a late fee of $150. (e) The Notes shall be executed on behalf of the Borrower by one of its authorized officers. Notes bearing the signatures of individuals who were at any time the proper officers of the Borrower shall bind the Borrower, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the delivery of such Notes or did not hold such offices at the respective dates of such Notes. No Notes shall be issued hereunder except those provided for in Section 2.02(a2.02 (a) and any Notes issued in exchange or replacement therefor pursuant to the terms of this Mortgage. Each Note of any Series issued under this Section 2.02 shall be dated the Delivery DateDate of the related Aircraft.

Terms of Notes. (a) On the Delivery Date of each Aircraft the Borrower shall issue Notes in respect of such Aircraft (the Notes issued in respect of each Aircraft shall be referred to as a "Series") in an aggregate original principal amount of the Original Amount therefor to each Lender (or their respective nominees) in such amounts as shall be set forth in Schedule II to the Credit AgreementAgreement for such Aircraft (based on the selected Leverage Option). (b) Each Note shall bear interest payable on each Interest Payment Date at the Applicable Rate on the unpaid principal amount thereof from the date thereof in the case of the first Interest Payment Date, or otherwise from the immediately preceding Interest Payment Date, to (but excluding) the following Interest Payment Date until such principal amount is paid in full. Interest hereunder and under the Notes shall be calculated on the basis of a year of 360 days and actual number of days elapsed (unless interest on the Notes shall be calculated by reference to the Fixed Rate, in which case such interest shall be calculated on the basis of a year of 360 days consisting of 12 30-day months). If any sum payable under the Notes or under this Mortgage falls due on a day which is not a Business Day, then such sum shall be payable on the next succeeding Business Day, unless such Business Day falls in the following month, in which case such sum shall be payable on the Business Day immediately prior thereto. (c) The principal of the Notes of each Series shall be due and payable in 40 consecutive installments (if the Borrower has selected Option A) or 48 consecutive installments (if the Borrower has selected Option B), in each case as set forth in Schedule 1 to the Mortgage SupplementSupplement for such Series, the first such installment to be due on the first Interest Payment DateDate following the date of issuance of such Series of Notes. Schedule 1 I to the Mortgage Supplement for each Series shall be determined as follows: the Original Amount for such Series shall be amortized on an annuity basis (using, as the discount rate, the lower of (x) the Applicable Rate for the initial Interest Period or (y) 6*%) down to the applicable Balloon Amount, payable on the Final Maturity DateDate for such Notes. The Administrative Agent shall prepare Schedule 1 I to the applicable Mortgage Supplement and the amortization schedule for each Note based on the methodology described in the preceding sentence. (d) Each Note shall bear interest at the Past Due Rate on any principal thereof and, to the extent permitted by applicable law, interest and other amounts due thereunder and hereunder, not paid when due (whether at stated maturity, by acceleration or otherwise), for any period during which the same shall be overdue, payable on demand by the Lenders given through the Administrative Agent. Any such late payment shall bear interest at the Past Due Rate. (e) The Notes shall be executed on behalf of the Borrower by one of its authorized officers. Notes bearing the signatures of individuals who were at any time the proper officers of the Borrower shall bind the Borrower, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the delivery of such Notes or did not hold such offices at the respective dates of such Notes. No Notes shall be issued hereunder except those provided for in Section 2.02(a) and any Notes issued in exchange or replacement therefor pursuant to the terms of this Mortgage. Each Note of any Series issued under this Section 2.02 shall be dated the Delivery DateDate of the related Aircraft.

Terms of Notes. (a) On the Delivery Date the Borrower 2.2.1 The Notes shall issue Notes in respect be dated as of the Aircraft in an aggregate original principal amount Closing Date, regardless of their actual date of issue, and shall mature on the Maturity Date. 2.2.2 The Notes will bear interest (i) from, and including, the Closing Date to, but not including, the Initial Interest Reset Date at the rate of 7.375% per annum and (ii) from and including the Initial Interest Reset Date, during each Interest Reset Period, at a rate per annum equal to the Five-Year Treasury Rate as of the Original Amount therefor most recent Reset Interest Determination Date, plus 3.122%, to be reset on each Lender (or their respective nominees) Interest Reset Date. Interest on the Notes will be payable semi-annually in such amounts as shall be set forth in Schedule II to the Credit Agreement. (b) Each Note shall bear interest payable arrears on each Interest Payment Date Date, commencing on September 15, 2024, subject to deferral as set forth in Article 5. The applicable interest rate for each Interest Reset Period will be determined by the Calculation Agent as of the applicable Reset Interest Determination Date. Subject to Article 5, interest as aforesaid shall be payable after as well as before default, with interest on overdue interest, in like money, at the Applicable Rate same rates and on the unpaid principal amount thereof from the date thereof in the case of the first same dates. 2.2.3 Interest Payment Date, or otherwise from the immediately preceding Interest Payment Date, to (but excluding) the following Interest Payment Date until such principal amount is paid in full. Interest hereunder and under on the Notes shall will be calculated on the basis of a 360-day year consisting of 360 days and twelve 30-day months and, for any period shorter than six months, on the basis of the actual number of days elapsed per 30-day month. For the purposes of disclosure under the Interest Act (unless Canada), and without affecting the interest payable on the Notes, whenever the interest rate on the Notes shall be calculated by reference is to the Fixed Rate, in which case such interest shall be calculated on the basis of a period of less than a calendar year, the yearly interest rate equivalent for such interest rate will be the interest rate multiplied by the actual number of days in the relevant calendar year and divided by the number of 360 days consisting of 12 30-day months). used in calculating the specified interest rate. 2.2.4 If any sum payable under the Notes or under this Mortgage Interest Payment Date falls due on a day which that is not a Business Day, then the payment of interest, principal or premium due on such sum shall Interest Payment Date will be payable on postponed until the next succeeding Business Day, unless and no further interest or other sums will accrue in respect of such Business Day falls in the following month, in which case such sum shall be payable on the Business Day immediately prior theretopostponement. (c) The principal of 2.2.5 Interest payments will be made to Holders in whose names the Notes shall be due are registered at the close of business on March 1 and payable September 1 (in 40 consecutive installments (if the Borrower has selected Option A) each case, whether or 48 consecutive installments (if the Borrower has selected Option Bnot a Business Day), in each as the case as set forth in Schedule 1 to may be, immediately preceding the Mortgage Supplement, the first such installment to be due on the first relevant Interest Payment Date. Schedule 1 to the Mortgage Supplement shall be determined as follows: the Original Amount shall be amortized on an annuity basis (using, as the discount rate, the lower of (x) the Applicable Rate for the initial Interest Period or (y) 6%) down to the applicable Balloon Amount, payable on the Final Maturity Date. The Administrative Agent shall prepare Schedule 1 to the Mortgage Supplement and the amortization schedule for each Note based on the methodology described in the preceding sentence. (d) Each Note shall bear interest at the Past Due Rate on any principal thereof and, to the extent permitted by applicable law, interest and other amounts due thereunder and hereunder, not paid when due (whether at stated maturity, by acceleration or otherwise), for any period during which the same shall be overdue, payable on demand by the Lenders given through the Administrative Agent. Any such late payment shall bear interest at the Past Due Rate. (e) The Notes shall be executed on behalf of the Borrower by one of its authorized officers. Notes bearing the signatures of individuals who were at any time the proper officers of the Borrower shall bind the Borrower, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the delivery of such Notes or did not hold such offices at the respective dates of such Notes. No Notes shall be issued hereunder except those provided for in Section 2.02(a) and any Notes issued in exchange or replacement therefor pursuant to the terms of this Mortgage. Each Note issued under this Section 2.02 shall be dated the Delivery Date.