COMMITMENT INCREASE SUPPLEMENT

Exhibit 10.11

Execution Version

COMMITMENT INCREASE SUPPLEMENT

SUPPLEMENT, dated as of May 27, 2016, to the Second Amended and Restated Credit Agreement, dated as of May 5, 2014, as amended by the First Amendment dated as of June 1, 2015, by the Second Amendment dated as of the May 27, 2016 and as further amended, supplemented or otherwise modified from time to time (the “Credit Agreement”) among AIR LEASE CORPORATION, a Delaware corporation (the “Borrower”), the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), and JPMORGAN CHASE BANK, N.A., as administrative agent (the “Administrative Agent”).

W I T N E S S E T H:

WHEREAS, the Credit Agreement provides in Section 2.1(d) thereof that any Lender may increase its Commitment under the Credit Agreement with the consent of the Borrower and the Administrative Agent by executing and delivering to the Borrower and the Administrative Agent a supplement to the Credit Agreement in substantially the form of this Supplement; and

WHEREAS, each of the undersigned now desires to increase its Commitment under the Credit Agreement;

NOW, THEREFORE, each of the undersigned hereby agrees as follows:

1.         Each of the undersigned agrees that, on the date this Supplement is accepted by the Borrower and the Administrative Agent (or on such other date as may be agreed upon among the undersigned, the Borrower and the Administrative Agent), its Commitment shall be increased as specified on Annex A hereto.

2.         Each of the undersigned hereby confirms and agrees that the Termination Date in respect of its Commitment is May 5, 2020.

3.         Terms defined in the Credit Agreement shall have their defined meanings when used herein.

[Remainder of page left blank intentionally.]

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.

		Bank of America, N.A.
		By:	/s/ Xxxxxxx Soo
			Name: Xxxxxxx Soo
			Title: Director

[Signature Page to Commitment Increase Supplement]

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.

		Citibank, N.A.
		By:	/s/ Xxxxxx Xxxxxxxx
			Name: Xxxxxx Xxxxxxxx
			Title: Vice President

[Signature Page to Commitment Increase Supplement]

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.

		BMO Xxxxxx Bank N.A, as a Lender
		By:	/s/ Xxx Xxxx
			Name: Xxx Xxxx
			Title: Vice President

[Signature Page to Commitment Increase Supplement]

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.

		BNP Paribas
		By:	/s/ Xxxxxx Xxxxx
			Name: Xxxxxx Xxxxx
			Title: Director - Transportation Group-
			Aviation Finance
		By:	/s/ Xxxx Xxxxxxx
			Name: Xxxx Xxxxxxx
			Title: Managing Director

[Signature Page to Commitment Increase Supplement]

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.

		Bank of the West, as Lender
		By:	/s/ Xxxxxxx Xxxxxxxxxx-Xxxxxxxx
			Name: Xxxxxxx Xxxxxxxxxx-Xxxxxxxx
			Title: Vice President
		By:	/s/ Xxxxx X. Xxxxxx
			Name: Xxxxx X. Xxxxxx
			Title: Director

[Signature Page to Commitment Increase Supplement]

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.

		Industrial and Commercial Bank of China Limited,
		New York Branch
		By:	/s/ Xxxxxxx Xxxx
			Name:	Xxxxxxx Xxxx
			Title:	Director
		By:	/s/ Xxxxxx Xxxx
			Name:	Xxxxxx Xxxx
			Title:	Managing Director

[Signature Page to Commitment Increase Supplement]

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered by a duly authorized officer on the date first above written.

		CITIZENS BANK, NATIONAL ASSOCIATION,
		as a Lender
		By:	/s/ Xxxxxx Wee
			Name:	XXXXXX WEE
			Title:	SENIOR VICE PRESIDENT

[Signature Page to Commitment Increase Supplement]

Accepted this 27th day of
May, 2016

AIR LEASE CORPORATION
By:	/s/ Xxxxxxx X. Xxxxxx
	Name: Xxxxxxx X. Xxxxxx
	Title:   Senior Vice President &
	Chief Financial Officer

[Signature Page to Commitment Increase Supplement]

Accepted this 27th day of
May, 2016

JPMORGAN CHASE BANK, N.A., as Administrative Agent
By:	/s/ Xxxx Xxxxx De Dios
	Name: Xxxx Xxxxx De Dios
	Title:   Vice President

[Signature Page to Commitment Increase Supplement]

Annex A

Increase in Commitments

Lender		Existing Commitment			Amount of Commitment Increase			New Total Commitment
Bank of America, N.A.		$	150,000,000		$	25,000,000		$	175,000,000
Citibank, N.A.		$	125,000,000		$	50,000,000		$	175,000,000
BMO Xxxxxx Bank, N.A.		$	125,000,000		$	25,000,000		$	150,000,000
Industrial and Commercial Bank of China Limited, New York Branch		$	40,000,000		$	85,000,000		$	125,000,000
BNP Paribas		$	75,000,000		$	15,000,000		$	90,000,000
Bank of the West		$	50,000,000		$	10,000,000		$	60,000,000
Citizens Bank, N.A.		$	30,000,000		$	10,000,000		$	40,000,000
Total:		$	595,000,000		$	220,000,000		$	815,000,000